Bilateral trade between Ghana and South Africa grows

Bilateral trade volumes between Ghana and South Africa recorded an upward trend from R2.6 billion to R10.8 billion between 2010 and 2014.

According to the South African High Commissioner to Ghana, Madam Lulama Xingwana, South Africa’s export to Ghana also grew by 22 per cent in 2014, propelling Ghana to one of the top 10 export markets for South Africa.

Conversely, she said, Ghana was now South Africa’s sixth import partner on the continent compared to being 23rd in 2011, adding that in terms of global trade, Ghana was now South Africa’s 34th export market and its 45th import partner.

On the growth of South African businesses in Ghana, Madam Xingwana said the introduction and expansion of some businesses in Ghana, such as Bigen Africa, FNB, Foschini Group, was an indication of growth in bilateral trade relations.

Investment opportunities in Ghana
On investment opportunities in Ghana, the Deputy Minister of Trade and Industry, Mr Kweku Ricketts Hagan, said Ghana had a competitive advantage in agri-business such that: “Our horticultural produce, mainly our fruits and vegetables, have superior characteristics warranting premium choice in almost all the major regional markets.”

He said although there were issues with some quality standards and best practices, the investment gap in the sector involved lack of processing machinery and equipment for value addition, and higher technology for efficient by-products development from commodities such as yam and cassava.

For infrastructure, he said the drive to push the sector into a full-scale national development trajectory was a lot and as such it presented an opportunity for foreign direct investments.

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