Business
Tinubu seeks stronger economic ties with South Africa
President Bola Tinubu on Monday held bilateral talks with South African President, Cyril Ramaphosa, in New York City, as he sought stronger economic ties ahead of the United Nations General Assembly.
This was disclosed via a statement from Ajuri Ngelale, Special Adviser to the President, Media & Publicity.
President Tinubu emphasized the need for Africa to utilize the billions of dollars spent through International Development Finance Institutions like IMF and World Bank (a.k.a Bretton Woods Institutions) over the years to meet the specific needs of developing democracies within the continent. He said:
“We have all the human and natural resources required between our nations. We can collaborate in a mutually beneficial way that enriches our populations. South African Mining industries have a role to play in the Nigerian solid minerals development sector.
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“Your business community has done well in Nigerian Telecommunications. We have great mineral wealth across our land, and you have good expertise in this area. We expect to deliver jobs and mutually beneficial results in this area as brother and sister countries.”
South African President, Cyril Ramaphosa agreed that the two countries have much more wealth to create together in close and intentional partnership, with each nation leveraging on each other’s respective strengths. He noted:
“We are two major economies on our continent, and we must deepen economic ties, particularly in light of the African Continental Free Trade Agreement. We are very keen on the deepening of our economic relations.
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“We would love to see Nigeria and South Africa working closely together on several issues because whenever we join hands, we have made an impact globally through those joint positions. Together, we can move the global south forward.
“We are a continent that has been plundered. And wealthy nations made so much of it from us, and we must seek out partners who will help us to advance our interests.”
Ramaphosa also used the opportunity of the bilateral engagement to extend an invitation to Tinubu to visit South Africa, following President Ramaphosa’s recent visit to Nigeria, as part of efforts to deepen economic ties and the broader relationship between both countries.
