Bilateral trade between South Africa and Nigeria grew from $1,607,723,365 in 2010 to $5,191,770,086 in 2014, New Telegraph has learnt. Already, South African investors are targeting the agriculture and agroprocessing, build environment professionals, infrastructure, furniture and wood processing, energy and mining sectors in Nigeria.
It was learnt that South Africa’s Department of Trade and Industry (DTI) would lead a business delegation on an Outward Selling and Investment Mission (OSIM) to Nigeria and Ghana next week.
The programme for the OSIM includes trade and investment seminars, mini exhibitions, business- to-business meetings and site visits. The objective of OSIM is to increase trade and investment and deepen bilateral relations between South Africa, Ghana and Nigeria.
The mission will serve as an ideal opportunity for South African companies to export value-added products and services to Ghana and Nigeria and for the penetration of companies that are looking for investment opportunities in these African countries.
Taking place between 17 and 21 August, 2015, the mission would be led by Deputy Minister for DTI, Mr. Mzwandile Masina, who said that the mission would provide a platform for South African companies to promote their products and services into the African market.
He added: “The mission presents the department with an opportunity to continue to pursue economic collaboration and partnerships with African countries. Masina explained that South Africa had taken a conscious decision to partner with Nigeria during their development phases and that Nigeria, like most countries in Africa, presents a wealth of business opportunities for South African companies.
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