South Africa Keen On Increasing Trade And Investments With Angola

South Africa is keen and committed to increasing trade and investments between South Africa and Angola. This was said by the Deputy Minister of Trade and Industry Bulelani Magwanishe who was delivering a key note address at the investment seminar that was part of the five-day Trade and Investment Mission to Angola.

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Over 150 captains of industries and key government officials from Angola attended the investment seminar and engaged with the 20-man South African business delegation that was led by Deputy Minister Magwanishe.

Magwanishe told the delegates that South Africa welcomes the efforts directed at creating a conducive environment for enhanced private-sector engagements between the two countries. These efforts would fast-track the mobilization of investment from South Africa through its Trade Invest Africa unit which is mandated to implement an investment-led trade strategy.

Magwanishe further pointed out that South Africa’s share of exports to the rest of Africa exceeds R400 billion, dominated by trade with Southern African Development Community countries, of which Angola is amongst the largest trading partners. He added that total trade between South Africa and Angola in 2017 stood at R25 billion.

“We call upon the South African business community to take advantage of advanced economic and diplomatic relations that augur well for further investment in Angola and Angolan companies to invest in South Africa,” said Magwanishe.

The Director-General of Ministry of Industry Angola Mr Luis Ribeiro challenged the South African businesspeople to invest and help build the industrial parks across the 18 provinces in Angola. He added that government was looking at dedicating one or two parks to South African investors under their development of industrial parks programme, similar to how Distell and Nampak had already located in their Industrial Development Zones.

Delegates also received project prospects on the 2018 – 2022 Railway Project plan from the Angolan Institute of Railroads on Railway Projects. Additional projects in the air traffic control and air navigation sector were presented for South Africa’s consideration.

The Angolan Investment Promotion Agency (APIEX) presented Investment Opportunities which the dti’s Trade Invest Africa (TIA) and the Export Credit Insurance Corporation (ECIC) of South Africa responded to.

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