‘Meet More, Trade More, Invest More’ – Ramaphosa At SA-Nigeria Business Forum

Riyaz Patel

President Cyril Ramaphosa told the South Africa-Nigeria Business Forum that the two largest economies on the continent have a unique role to play in driving integration across Africa.

“Our existing regional value chains can be integrated by deepening our bilateral relationships,” Ramaphosa said the business dialogue which forms part of Nigerian President Muhammadu Buhari’s state visit to South Africa.

He then flashed out the stats, saying over 100 South African companies have investments in Nigeria, and over 1700 South African firms had active trade relations with the west African powerhouse.

Ramaphosa added that South Africa is by far the largest purchaser of Nigerian products in Africa, “accounting for nearly half of Nigeria’s exports to the rest of Africa in 2018.” 

Ramaphosa said the two countries had sealed 32 bilateral agreements and memoranda of understanding covering trade and industry, science and technology, defence, agriculture and energy.

Nigeria accounts