President Cyril Ramaphosa has called for stronger economic ties between South Africa and Ghana and implementation of more than 20 agreements signed since establishment of diplomatic relations between Pretoria and Accra in 1994.
Speaking during the Second Session of the South Africa-Ghana Bi-National Commission (BNC) in Pretoria on Tuesday, Ramaphosa emphasised the importance of expanding trade and investment between South Africa and Ghana.
“Our companies are keen to expand their investments in Ghana and look to us to work together to improve the business environment,” the South African leader said during the BNC that he co-chaired with his Ghanaian counterpart Nana Akufo-Addo.
He added: “We invite investors from Ghana to look at opportunities in our country.”
There are over 100 South African companies registered in Ghana such as telecoms giant MTN, miners AngloGold Ashanti and Goldfields, retail giant Shoprite, and financial institutions Standard Bank, First National Bank, and Barclays/Absa.
Ramaphosa also pointed out the potential for collaboration in infrastructure, particularly in the building of dry ports, railway networks, airports, and hospital facilities.
He also cited opportunities in the pre-chemicals sector and the maritime economy, given that both countries are coastal.
He added: “As we are both coastal countries, maritime shipping and the related economy holds potential for us and opportunities should be explored further in this regard.”
The South African leader highlighted the 24 existing agreements and memoranda of understanding between the two nations, covering various areas of economic, technical, scientific, social and cultural cooperation.
He emphasized the need to accelerate the implementation of these agreements and finalise discussions on additional ones.
In a joint communique issued at the end of the BNC, Ramaphosa and Nana Akufo-Addo mandated their respective officials “to leverage the existing potential to deepen cooperation.”
“The Heads of State also underscored the need for a common approach in the operationalisation of the decisions of the African Union related to the implementation of Agenda 2063 in general and the African Continental Free Trade Agreement to bolster intra-Africa Trade, in particular,” the communique read.
On continental issues, the two leaders took note of the ongoing peace and security challenges in parts of the continent and “underscored the need to redouble efforts to realise the African Union Agenda 2063 aspiration to ‘Silence the Guns’.”
JN/APA
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Publish date : 2024-03-12 07:00:00
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