South Africa and Ghana discuss trade relations at joint business forum

South African President Cyril Ramaphosa recalled the strong economic ties between the two countries during the 2nd session of the South African-Ghana Bi-National Commission. This is reported by Pretoria News, a partner of TV BRICS.

According to him, South Africa is the largest importer of Ghana's products in Africa and third compared to all other countries in the world. The leader recalled that South African companies have invested about US$1.4 billion in 53 projects across Ghana between January 2003 and January 2024.

"South Africa and Ghana have untapped economic potential and much more needs to be done, both with regards to growth of total trade and the diversification of products to high-value manufactured exports"

Cyril Ramaphosa South African President

He welcomed delegates from the second side led by Ghana's President Nana Akufo-Addo.

"We are pleased to host this business forum to explore business opportunities that enhance our bilateral economic relations," Cyril Ramaphosa said.

South African delegates representing over 150 companies and their Ghanaian counterparts from 78 companies in discussion groups agreed that the inability of African businessmen to trade directly and cost-effectively using national currencies needs to be addressed. The parties agreed to work on this issue.