Cape Town – South Africa and Namibia have strengthened their relations with agreements in over 150 areas, as announced by President Cyril Ramaphosa during the South Africa-Namibia Business Forum.
The agreements cover various aspects of cooperation and have developed over time.
The two countries are looking to capitalise on the opportunities presented by the African Continental Free Trade Area to position themselves as an industrial hub and boost trade within the region.
“Our Ministers of International Relations tabled a report at the Bi-National Commission where they reported on up to 159 areas of agreement that they have worked on in the past few days. This process started after His Excellency Hage Geingob visited South Africa on a state visit earlier this year.
“This business forum was presaged by those agreements that they have been working on for all this time. To have had up to 150-something areas agreement is a truly outstanding feat…that is a result of real good hard work,” Ramaphosa said.
His Excellency President @CyrilRamaphosa welcomed to the State House by His Excellency President @HageGeingob for the 3rd Session of the Bi-National Commission between South Africa and Namibia.#SAinNamibia 🇿🇦🇳🇦#BetterAfricaBetterWorld 🌍 pic.twitter.com/wVlmsLpGwx
— Presidency | South Africa 🇿🇦 (@PresidencyZA) October 13, 2023
Specific areas of cooperation include green hydrogen strategies, cross-border value chains, increased investment in each other’s economies, and deeper private sector relations.
Ramaphosa emphasised the potential of the west coast of the African continent to become a significant green hydrogen region by collaborating on green hydrogen projects.
The cross-border value chains would leverage the abundance of raw materials, technology, capital, skilled labor, and infrastructure in both countries to promote manufacturing on the African continent.
South Africa’s favourability as an investment destination was highlighted, encouraging Namibian businesses to expand their operations in South Africa and vice versa.
To boost investment, both countries agreed to work towards establishing a financing facility for industrial and productive development projects.
The creation of a South Africa-Namibia Business Council and the commitment to attract private sector investment in agreed areas of cooperation were also among the key decisions made to strengthen economic ties between the two nations.
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Compiled by Betha Madhomu
