Speaking of the week-long trade mission expected to end on Saturday, Trade and Industry Minister Rob Davies said the trip was part of the country’s investment-led trade approach with African countries aimed at increasing intra-Africa trade and investment opportunities.
Funded by the Ministry of Trade and Industry, 30 local companies are taking part in the mission through the ministry’s Export Marketing and Investment Assistance Scheme.
The objective of the scheme is to develop export markets for South African products and services and to recruit new foreign direct investment into the country, according to the ministry.
Electro Inductive Industries, a Cape Town based electro-technical firm, has benefitted from the Black Industrialists Programme and is keen to explore the Ghanaian market.
“In Ghana, we will be looking for people who can act as our agents, as well as customers, who can buy transformers and mini-substations directly from us,” the company’s chief executive officer Sydney Mabalayo said.
Trade between South Africa and Ghana has increased from almost US$286 million in 2014 to US$9 billion in 2018.
South Africa exported US$314 million worth of goods to the West African country in 2018, while imports were valued at US$6.2 billion.