Zuma calls on SA and Ghana to work together to "unlock economic development"

Zuma calls on SA and Ghana to work together to “unlock economic development”

During his state visit to Ghana, South African president Jacob Zuma has called on the two countries to work together to ensure they "take advantage of" Africa's current growth trajectory to "unlock economic development".

"We succeeded to build on the achievements gained during the 2011 State Visit to South Africa by our late brother, His Excellency President John Atta Mills in 2011," he said.

"We have to take advantage of the current growth trajectory as Africa is one of the fastest growing regions in the world in spite of the global economic meltdown."

South African investments in Ghana amounted to more than R64 billion between 2003 and April 2013, and totalled R5 billion in 2012.

"We are pleased with the increasing presence of South African companies operating in Ghana," Zuma said.

There are more than 80 South African multinational and small scale companies registered in Ghana including MTN, Gold Fields, AngloGold Ashanti, Stuurrock Shipping, Simat Group, BSi Steel, Educor, Metropolitan, Stanbic Holdings, Standard Bank, Goldfields, SABMiller, Woolworths, African Explosives Limited, Multichoice, Shoprite Checkers, Sherwood, Steers and South African Airways.

"More agreements were signed today on the areas of transport, air services and electricity cooperation. Earlier this month, our Ministers agreed on an action plan and today further committed to ensuring the implementation of these instruments," Zuma said.

President Zuma was addressing Ghanaian President John Mahama and other delegates at the South Africa-Ghana Business Forum.

It was his first state visit to Ghana whose investments in South Africa currently amount to an estimated figure of $7.4 million.

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