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South African President Cyril Ramaphosa wants South Africa and Ghana to significantly expand trade between both countries.

“The decline in total trade between our two countries is a reason for us to be concerned,” Ramaphosa said during the second session of the South Africa-Ghana Bi-National Commission. “We should use the opportunities presented by the African Continental Free Trade Area to substantially expand trade between Ghana and South Africa.”

In January, South Africa exported its first shipment of goods to Ghana under the AfCFTA agreement. The shipment was significant as it officially launched South Africa’s participation in the AfCFTA.

Ramaphosa also reassured Ghanaians that South African companies remained very interested in trading and investing in Ghana.

“Our companies in South Africa have requested me to assure you of their desire and commitment to expand their businesses in Ghana. They appreciate many opportunities which are available, especially in the development of infrastructure,” Ramaphosa said.

There are more than 200 South African companies registered in Ghana, according to the Ghana Investment Promotion Centre. These companies employ about 20,000 Ghanaians and around 500 expatriates.

Ramaphosa also said the signing of new Memoranda of Understanding (MoUs) will strengthen the determination and commitment of South Africa and Ghana to expand their efforts towards ensuring socio-economic development for the mutual benefit of their citizens. 

“We have identified a pipeline of bankable infrastructure development projects in Ghana, which our development finance institutions are ready to finance. These projects cover rail networks, airports, roads, and ports, amongst others.”

(Story compiled with assistance from wire reports)