South Africa, Ghana nurturing their US$61 million bilateral trade

South Africa, Ghana nurturing their US$61 million bilateral trade

Bilateral trade between Ghana and South Africa have increased over the years from US$32 million in 2008 to US$60.9 million recently, South African trade and industry vice-minister Elizabeth Thabethe said this week on her visit to Ghana, where she led a delegation of business-people on an Outward Selling and Investment Mission to increase trade and investment.

“Relations between South Africa and Ghana have matured over the years and the increase in bilateral trade is indicative of this maturity,” Thabethe said.

Ghana made a successfum entry in the club of Africa’s oil producers in the past few years, and South Africa –  a country always looking for external sources of energy to drive its powerful economy – is taking advantage of this oil bonanza to cherish the West African nation to the bone.

“With the recent discovery of oil I would urge Ghana to take advantage of the Saldanha Bay Industrial Development Zone for the servicing of oil and gas rigs and for broader upstream exploration,” Thabethe said.

In response to these deep friendship advances, her Ghanaian counterpart Haruna Idrissu seems to have been hooked, urging South African companies to invest in his country.  “We welcome South African entities that want to invest in any sector and are prepared to assist all value adding projects,” he said.

“Entities looking to invest in Ghana on Private-Public partnerships will be incentivised, particularly those in the agro-processing sector,” he added.

South Africa is expected to participate at the National Pavilion at the Ghana International Trade Fair in 2014, it was announced.

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