By Noko Mashilo
South Africa and Nigeria have committed to strengthening economic ties with each other following their Binational Commission summit in Cape Town this week. Addressing business and political leaders, including Nigerian President Bola Ahmed Tinubu, President Cyril Ramaphosa highlighted the need to create an enabling environment for Nigerian investors to operate, trade, and explore opportunities across diverse sectors in South Africa. The countries met to discuss deepening collaboration in critical areas such as trade, infrastructure, energy, and technology, with the shared aim of fostering economic growth and regional stability.
Ramaphosa expressed his vision for a robust partnership that facilitated mutual benefit, enabling Nigerian businesses to thrive within South Africa’s dynamic economy. “South Africa has always been open to Nigerian businesses, as evidenced by the investments and operations already established here,” he said. “We must address the remaining barriers to greater investment and resolve challenges faced by companies.” The president reaffirmed his government’s ongoing efforts to improve the ease of doing business.
According to a statement issued by the Presidency, work was underway to modernise and streamline visa application processes worldwide, and part of this was the South African mission in Nigeria to improve the efficiency and convenience of applying for a visa. Eligible Nigerian entrepreneurs could now access five-year multiple-entry visas. Furthermore, at the time of application, Nigerian tourists are were now able to apply for visas without submitting their passports. Ramaphosa expressed optimism that this session of the Binational Commission would strengthen cooperation in key sectors.
He reminded attendees that Nigeria was South Africa’s largest trading partner in West Africa, with significant room for growth. “The African Continental Free Trade Area will allow our countries to trade more seamlessly across a variety of products. Let us seize this opportunity,” he urged. The president also applauded Nigeria’s steadfast support for regional and continental unity. “Our regional body, the Southern African Development Community, continues to address challenges within our neighbourhood,” he said.
Ramaphosa highlighted South Africa’s recent assumption of the G20 Presidency, marking the first time the G20 Leaders’ Summit will be held on African soil. “We will prioritise Africa’s development and the challenges faced by the Global South on the G20 agenda,” he affirmed. He concluded by addressing the shared challenges of inequality, poverty, and unemployment across the continent. “Together, we must position Africa as the continent of the future and bring to life the vision of our forebears,” said the president.
