Pretoria - Trade and Industry Deputy Minister Mzwandile Masina has arrived in Nigeria for the second leg of the Outward Selling and Investment Mission (OSIM) which aims to increase trade and investment between the two countries.
The Deputy Minister is leading a business delegation to Ghana and Nigeria.
Having arrived in Nigeria on Thursday, after departing from Ghana, the Deputy Minister is expected to address the South African and Nigerian business communities during a business seminar.
Deputy Minister Masina said the visit to Nigeria was aimed at South Africa forming continuous and sustainable economic relations with West African countries in order to advance industrial development and upgrade diversification along a growth path that addresses structural constraints in the economy, including unemployment and poverty.
“Nigeria is the biggest economy in Africa and one of the few countries that South Africa suffers a trade deficit with due to the importation of petroleum products. The mission is therefore intended to penetrate the Nigerian market with South African manufactured products and to further exploit investment opportunities,” he said on Thursday.
Nigerian exports to South have recorded a continuous growth rate, increasing from R16 billion in 2010 to R55.7 billion in 2014. South Africa’s exports to Nigeria have increased from R4.3 billion in 2010 to R10.5 billion in 2014.
The Deputy Minister is scheduled to meet with the Chairman of MTN Nigeria, Pascal Dozie and the President of Dangote Group Aliko Dangote.
He will also pay a courtesy visit to the Governor of Lagos State Akin Ambode.
The OSIM which kicked off on Monday began in Ghana. - SAnews.gov.za
