President Cyril Ramaphosa said South Africa’s investment portfolio in Côte d’Ivoire was expanding.
He was addressing the South Africa and Ivory Coast Business Forum in Pretoria on Friday.
President Ramaphosa says there are opportunities for the export of machinery, consumer goods, vehicles and paper.
In 2021, South Africa’s exports to Côte d’Ivoire were worth around R1.6 billion.
According to Ramaphosa, imports from Ivory Coast are also improving in products such as oil, cashew nuts and cocoa.
President Ramaphosa receives his Ivorian counterpart, President Alassane Ouattara:
For example, in 2021, the Development Bank of Southern Africa increased its investments in Côte d’Ivoire from R2.17 billion to R3.09 billion.
Two major South African banks, RMB and Nedbank, finance many infrastructure developments in Côte d’Ivoire.
MTN’s footprint in Côte d’Ivoire is growing. “We were delighted to be at the launch of MTN’s new headquarters in Abidjan during the State visit last year.”
Multichoice, Sanlam and Investec are among the growing number of South African companies expanding into Côte d’Ivoire.
Last month, the South African Department of Trade, Industry and Competition undertook a technical investment visit to Côte d’Ivoire with a group of black industrialists.
Ivorian Foreign Minister calls on AS and Ivory Coast to cement their ties: