More

    Nigeria, South Africa Strengthen Trade Relations with Focus on Partnerships and Regulation

    Nigeria and South Africa have reaffirmed their commitment to expanding economic cooperation, concluding the 2025 Outward Selling Trade Mission to Nigeria with renewed focus on partnerships, investment confidence, and regulatory reforms, The Guardian reports.

    The programme, jointly organised by the South African Consulate General in Lagos and South Africa’s Department of Trade, Industry and Competition (DTIC), featured high-level engagements between businesses and investors from both countries.

    Speaking at the event, Professor Bobby J. Moroe, Acting High Commissioner and Consul General of South Africa in Nigeria, stressed the importance of leveraging the economic strength of both nations to boost intra-African trade under the African Continental Free Trade Area (AfCFTA).

    “This mission is about using the strength of our economies to deepen Africa’s role in global trade. The partnerships built here can open opportunities for jobs, infrastructure, and industrial growth,” Moroe said.

    Don’t Miss This: U.S. to Impose New Steel Import Taxes on South Africa and Nine Other Countries

    A major highlight was the business matchmaking sessions facilitated by McKire Africa, which linked South African firms in manufacturing, mining, engineering, agriculture, and agro-processing with Nigerian partners. 

    Founder Margaret Chichi Nkire noted that these sessions laid the groundwork for distributorships, joint ventures, and long-term cooperation.

    The forum also addressed Nigeria’s regulatory landscape. Barrister David Hachilam Nkire of Fola Sowemimo & Co. (Sterling Partners) outlined reforms designed to improve ease of doing business and attract foreign investors. 

    Don’t Miss This: Nigeria’s Oil Output Hits Six-Month High in July, Exceeds OPEC Quota

    Similarly, Sonny Iroche, CEO of GEN AI Learning Concepts Limited, highlighted how artificial intelligence tools could enhance cross-border trade by authenticating business partners and boosting efficiency.

    Dr. Ije Jidenma, Chairman of the Nigeria–South Africa Chamber of Commerce, called for sustained collaboration between government and the private sector, noting that both countries play pivotal roles in Africa’s economic integration.

    The mission closed with a joint commitment to strengthen structured platforms for trade, investment, and business cooperation.

    Image Credit: Prime Business Africa

    Sign up for our free Daily newsletter

    We'll be in your inbox every morning Monday-Saturday with top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur.

    Related Posts

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Captcha verification failed!
    CAPTCHA user score failed. Please contact us!

    Latest

    FinTribe Empowers 500,000 Women in Wealth Creation

    FinTribe, a women-led wealth-building platform founded in 2021 by Nigerian finance coach Jennifer Awirigwe, has become one of Africa’s largest financial empowerment movements, supporting...

    UBA, Mastercard Launch Prepaid Card to Boost Financial Inclusion

    United Bank for Africa Plc (UBA) and Mastercard have jointly introduced a new prepaid card designed to expand access to digital payments for underserved...

    US Pledges $32.5M to WFP for Food Aid in Nigeria

    The United States government has committed $32.5 million to the World Food Programme (WFP) to provide urgent food and nutrition support for communities affected...

    Naira gains as FX inflows rise 26% year-on-year

    The naira extended its upward momentum yesterday bolstered by a sharp rise in foreign exchange (FX) inflows, which grew by 26 percent year-on-year, according...

    Nigeria’s Non-Oil Revenue Surges to ₦20.59Trn in Eight Months – Presidency

    Nigeria recorded a significant boost in its non-oil revenue, hitting ₦20.59 trillion between January and August 2025, representing a 40.5 percent rise compared to...