South Africa-Nigeria Trade and Investment Roundtable Holds in Lagos

South Africa-Nigeria Trade and Investment Roundtable was held today in Lagos, with a call from stakeholders to improve the ease of doing business and eliminate the immigration bottlenecks between South Africa and Nigeria. In attendance were international businessmen and women, industrialists, investors, and captains of industries.

Hosted by the South African Consulate in Lagos, the event is part of series of programs and activities to celebrate the maiden edition of South Africa Week in Nigeria to commemorate the 29th Anniversary of South Africa’s democracy and 29 years of formal diplomatic relations between South Africa and Nigeria.

The event which took place at the Eko Hotels and Suites, Victoria Island Lagos, provided a formal platform between South African and Nigerian Business Community to exchange views, and share challenges and experiences with respect to doing business between both countries.

In his opening and welcome remarks, the Consul-General of South Africa in Lagos, Dr Bobby Moroe, said the event was to mark 29 years of uninterrupted bilateral relations between South Africa and Nigeria. According to Dr Moroe, the South Africa-Nigeria Trade and Investment Roundtable the was organised as part of an ongoing process to facilitate the establishment of a mutually beneficial business relationship between South Africa and Nigeria as well as improve the ease of doing business between both countries.

The major highlight of the event was a power-packed and star-studded panel discussion moderated by Chief Sunny Irote. The Panel Discussion which centred on the theme: "Opportunity for Industry Trade and Investment Between South Africa and Nigeria", x-rayed the vast business and investment opportunities available in both countries as well as the various challenges and how to ameliorate them.

Beyond government bilateral relations, the panellists called for the enhancement of people-to-people relationships between South Africans and Nigerians by erasing negative perceptions. There was also a call to de-dollarize trade between South Africa and Nigeria and the need to improve balance of trade and have a common currency for Africa. The panel also called on the Federal Government of Nigeria to ease importation process and cost in and improve the availability of forex.

The South Africa-Nigeria Trade and Investment Roundtable was aimed at promoting and positioning South Africa as a preferred trade and investment country that is open to business. While helping to build a good and mutually beneficial relationship between the South African and Nigerian Business Community, the event was also an opportunity for both countries to explore and expand on opportunities for trade and investment.

Other highlights of the event included keynote address by Mr Nyameko Goso, Chief Director: West Africa, Department of International Relations and Cooperation South Africa, goodwill message from Mr Osayaba Giwa-Osagie, Chairman of the Nigeria-South Africa Chamber of Commerce, documentary by Invest South Africa, and a beautiful performance by Corporate Dance World.

South Africa Week formally kicked off on Saturday 22 April with the inaugural event at Terraform Lagos. Other programs lined up include Freedom Day Celebration which will come up on Friday, 28 April 2023. The Week will come to an end on Saturday, 29 April 2023 with SACG Golf Tournament to promote social cohesion between South Africans and Nigerians through sports.

It'll be recalled that formal diplomatic relations between South Africa and Nigeria was established in 1994. The countries' respective high commissions were established in Abuja in 1995 and in Tshwane in 1996, opening up bilateral relations between both countries.