South Africa will be strengthening its investment relation with Ghana and Nigeria as the country’s department of trade and industry recognizes Ghana and Nigeria as strategic partners within the West Africa region. In this regards, the dti will send a business delegation on a Trade and Investment Mission to Accra, Ghana and Lagos, Nigeria from 20-25 March 2017 with the objective to identify and create export markets for South African value-added products and services while creating business partnerships between business communities of the respective countries. Sectors to be focused on by the mission includes Agro- Processing; Electro-technical; Infrastructure, Mining and Capital Equipment.
According to the dti, total trade of goods to Ghana was at 3.52 billion USD in 2016, while export to Nigeria doubled from 2012 to 2015 with a 6 per cent increase in 2015. Both countries demonstrates the potential of brighter prospects in future engagements towards promoting business integration in Ghana. Minister Davies (dti) commenting on the mission to Ghana and Nigeria said, “The mission will also create a platform to facilitate networking and the obtaining of information on the dynamics of the industries, as well as availability of partnership opportunities in both Ghana and Nigeria. It will also provide opportunities for relationship building amongst business communities.” He furthered to say, that “In 2016, South Africa’s total trade of goods to Ghana reached R45.09 billion. This comprised of exports valued at R4.9 billion, whilst imports were valued at R192 million. South Africa registered a trade surplus of R4.7 billion with Ghana in 2016.”
He also added that as both countries aim to diversify their economy away from oil, South Africa can assist with the necessary skills and expertise required to advance the diversification of both markets, at the same time increasing the South African footprint both in value-added products and investments.