Nigeria and South Africa are the two biggest economies in Africa with a combined GDP of close to a trillion US Dollars. Trade between them is still fairly small despite growing exponentially in the last two decades from just seven million dollars in 1999 to well over 4 billion dollars currently.
Analysts say that while the number of South African companies investing in Nigeria is increasing, trade between the two countries could get better with improved relations.
The two countries are collaborating on expertise and skills transfer in several industries including the automotive and mining sectors.
The Nigerian market is however tough to do business in, and hasn’t always been smooth sailing. A bumpy political relationship has hampered steady progress between the two countries, and it may be some time before the relationship is completely mended.
South African authorities however say the relationship is improving, and the two countries are ironing out their differences, an this will ultimately enable better trade relations.
