SA, Ghana to Deepen Trade Relations

Local companies on an Outward Trade and Investment Mission (OTIM) underway in Ghana will today participate in the Ghana-South Africa Trade and Investment seminar and a business-to business meeting aimed at growing trade between the two countries.

The Deputy President of the Ghana-South Africa Business Chamber, Opeibea Omaboe, said the business fraternity in the West African country is looking forward to engaging their South African counterparts.

"All the hundred members of our chamber, who comprise businesspeople from Ghana and South Africa operating across all sectors of the Ghanaian economy, are looking forward to interacting with the business delegation from South Africa," Omaboe said ahead of Wednesday's engagement.

Funded by the Department of Trade and Industry (dti), 30 local companies are partaking in the OTIM through the department's Export Marketing and Investment Assistance Scheme.

The mission to Ghana got underway on Monday.

The chamber was established in 2008 specifically for the purpose of promoting more interaction amongst businesspeople from the two countries with the aim of increasing trade and investment.

The Ghana-South Africa Business Chamber has collaborated with the South African High Commission in Ghana to host the seminar, which will be followed by business-to-business meetings.

Omaboe said while the chamber is contributing positively to the growth of trade and investment between the two nations, there is room for improvement.

"There is always a room for improvement and there is an abundance of opportunities in both economies that businesspeople can work together and take advantage of.

"For instance, the Ghanaian government's new 'One District One Factory' economic strategy is providing unlimited opportunities for strategic partnerships and collaborations amongst our companies to derive mutual benefits from the industrialisation process of Ghana," she said.

Trade between South Africa and Ghana has increased considerably from almost R4 billion in 2014 to R13 billion in 2018.

In respect of direct investments, a total of over 180 projects by South African companies in Ghana have been recorded between 2006 and 2017, with an investment value of over US $770 billion.

The mission will conclude on Saturday.

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