Lagos, July 4th, 2023 – The South African Consul-General, Professor J Moroe, along with Brand South Africa and the South African BRICS Business Council, has extended a warm invitation to business leaders, economists, and stakeholders for a highly anticipated business roundtable and dialogue session focused on trade between South Africa and Nigeria. The event aims to explore the vast opportunities presented by the African Continental Free Trade Agreement (AfCFTA) and the BRICS partnership in Africa.
The roundtable, which took place at the esteemed Radisson Blu Anchorage in Victoria Island, Lagos, was geared towards fostering regional and continental trade cooperation. With the AfCFTA becoming effective on May 30, 2019, for 24 countries that had deposited their instruments of ratification, the discussions centered on strengthening economic ties and opening new avenues for growth and collaboration.
Highlighting the strategic partnership between South Africa and Nigeria, the roundtable emphasized Nigeria’s significance as a priority country for South Africa. Nigeria currently represents over two-thirds of the market share for South African exports and investments in the West-Africa sub-region, cementing its crucial role in South Africa’s trade landscape. Since 1994, trade between the two nations has experienced steady growth, with Nigeria emerging as South Africa’s 7th largest African export market and a key supplier of crude oil.
The business forum also delved into the upcoming 15th BRICS Summit scheduled to be held in South Africa from August 22nd to 24th, 2023. Participants actively engaged in dialogues exploring how the BRICS formation could further benefit the continent and contribute to forging collaborations and transforming nations through the AfCFTA and BRICS.
Among the notable speakers was Ms. Busisiwe Mabuza, a highly accomplished businesswoman who serves as Chairperson of both the BRICS Business Council and the Industrial Development Corporation (IDC). With her extensive expertise in strategic leadership, entrepreneurship, and business expansion, Ms. Mabuza shared valuable insights on leveraging the BRICS partnership and the AfCFTA to drive economic growth and enhance trade in the region.
In conjunction with the roundtable, an exclusive grand wine-tasting event is set to take place at the Marriot Ikeja Lagos Hotel on July 13th, 2023. Organized by Jon Williams Consult, in collaboration with the Wines of South Africa and the South African Consulate, this elegant affair promises an immersive experience showcasing a selection of premium South African wines, each reflecting the richness and diversity of the country’s renowned wine industry. The event, strictly by invitation, will bring together wine enthusiasts, industry professionals, and esteemed guests, fostering connections and camaraderie in an intimate setting.
The South African Consul-General’s initiatives in Lagos reflect a dedicated effort to strengthen trade partnerships and enhance economic collaboration between the two nations.
