MIDRAND, South Africa — In a significant push to bolster economic ties, President Cyril Ramaphosa advocated for deepened trade relations between South Africa and Ghana, focusing on the exchange of value-added products to foster job creation and economic growth. Speaking at the SA-Ghana Business Forum at the Gallagher Convention Centre, Ramaphosa emphasized the need to transcend traditional commodity trade and venture into sectors that promise higher value and employment prospects.
According to South African Government New Agency, both nations, bound by a shared history in their fight for freedom, are well-positioned to leverage their relationship to unlock substantial economic opportunities. He underscored the enduring solidarity rooted in their joint battles against apartheid and colonialism, providing a sturdy foundation for future collaborative endeavors.
The occasion marked President Nana Akufo-Addo’s working visit to South Africa, following President Ramaphosa’s invitation to co-chair the second session of the Bi-National Commission (BNC) focusing on enhancing bilateral relations. This high-level engagement saw discussions around mutual interests and strategies to amplify bilateral trade and investment, reinforced by historical bonds and contemporary diplomatic and economic frameworks.
During the forum, President Ramaphosa pointed out Africa’s position at the lower end of global value chains and highlighted the continent’s potential in clean energy manufacturing, a sector where both nations could capitalize on their resource endowments. He proposed that South Africa and Ghana could significantly benefit from the burgeoning industries of battery storage and electric vehicle manufacturing, given Africa’s rich mineral resources essential for these technologies.
The President called for an improvement in manufacturing capacities and scaling up of production to foster domestic and regional economic linkages. He noted the strategic importance of Ghana for South Africa as a pivotal trade partner in West Africa, evidenced by existing trade and investment flows that position South Africa as a major consumer of Ghanaian exports within the continent.
The meeting underscored the transition from the earlier Permanent Joint Commission for Cooperation to a more comprehensive Bi-National Commission, reflecting the growing partnership between the two states. The business forum served as a platform for South African and Ghanaian companies to explore avenues for intensified trade and investment, aligning their economic activities with the broader objectives of the African Continental Free Trade Area.
By fostering collaboration between these two key African economies, the leaders aim to stimulate economic growth, create employment opportunities, and encourage closer people-to-people exchanges, contributing to the broader vision of an integrated and prosperous Africa.