africa Angola South Africa Trade

Trading between Angola & South Africa surpassed ZAR$25B in 2017

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Around ZAR 25 billion (481.5 billion kwanzas) was the value of trade between South Africa and Angola in 2017, said the South African deputy minister of Trade and Industry, Bulelani Magwanishe.

Speaking at the South Africa / Angola Business seminar on July 16-21, he emphasized that transactions stem from the petroleum and mineral sectors, hoping to be able to expand trade partnerships to other sectors, contribute to the process of diversification of the Angolan economy.

He said that the group of businessmen in Angola came to strengthen relations, at a time when African leaders have been making the African continent grow and surpass the economic challenges of the countries.

The South African official recalled that from 2003 to 2017 a total of 28 direct investment were held, in addition to the projects filed, a number of companies invested in various sectors such as finance and processing.

He pointed to the sectors of energy, business, infrastructure, vehicles, construction as being of extreme importance for both countries, so that there is transformation and inclusive growth, believing that the South African mission will bring more business and partnerships to Angola.

According to the official, South Africa wants to be actively involved in the region’s economic growth agenda, increasing trade between African markets and leveling the market among the 54 African countries with more than one billion of citizens and with a GDP of 3 trillion dollars.

Source: Angop

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