South Africa will support Canadian investments and other businesses to build a strong bond between the North American country and the African continent, President Cyril Ramaphosa said on Tuesday.
Speaking in a pre-recorded message at the Africa Accelerating 2022 Conference on deepening trade and investment between Africa and Canada, Ramaphosa said South Africa “stands ready to support Canadian companies wishing to trade, invest and do business on the African continent.”
“This is the time to work together, as we did when we confronted the deadly Covid-19 pandemic to realise the many opportunities that exist for mutual growth and development,” the South African leader said.
He noted that this history, together with the strong trade and investment ties between Africa and Canada, provided a firm platform to expand cooperation and accelerate growth.
The president said as Africa was pursuing economic integration, the opportunities for Canadian investors and companies were immense and would steadily expand.
There are many opportunities for Canadian companies in Africa beyond the extractives sector, he added.
“On a continent where around 60 percent of arable land remains uncultivated, there is huge potential for climate smart agriculture and agro-processing,” he noted.
The three-day annual summit brought together high-level leaders every October at venues in Canada and on the African continent – broadcast live to thousands of delegates in addition to in-person attendance.
NM/jn/APA