Jul 28, 2008
SA, Nigeria must lead the way in Africa’s economic revitalisationBack
Construction|Engineering|Africa|Aviation|Education|Exploration|Africa|Oil And Gas
© Reuse this
"Africa cannot afford to continue to wallow in instability. The world is not waiting for Africa. The world is moving fast away from us. The gap between Africa and the west is widening each day. Leaders can no longer hide behind their borders. So African leaders must keep step with the world," said Ohakim.
The South African Department of Trade and Industry's director-general Tshediso Matona agreed that the two countries had the responsibility and capacity to provide leadership to "revitalise" the African economy.
He noted that there was a trade imbalance between the two countries and that trade diversification was one area that required work.
South Africa had a growing presence in Nigeria in a number of sectors, including engineering, construction, aviation, media, oil and gas, exploration, hospitality, banking and retail.
Matona said South Africa would like to see growing trade and investment from Nigeria in South Africa. "Our economy is open to investors from Nigeria," he commented, adding that trade with Nigeria was part of a broad long-term strategy of government to link up with high-growth strategic partners on the continent.
Further, Matona appealed to Nigeria to look at the issues of protectionism, high levels of tariffs and trade barriers that impeded trade.
Matona stated that while Nigeria's trade policies seemed to be heading in the right direction, there were areas where the country could open up its trade to benefit the Nigerian economy further.
Meanwhile, Ohakim said that while Nigeria was the biggest oil and gas producer on the continent, and Africa had a bigger role to play in the international oil and gas arena, the continent had to deal with its political instability.
He explained that of the 53 African countries, only 16 were fully democratic, while only ten were peaceful.
Ohakim added that for every year a country achieved poor economic performance, it set that country's growth back by ten years. "We must invest in education and skills [development]," he noted, saying this was a key issue that needed to be addressed.
He noted that African countries could learn from South Africa, which he described as a first-world country in a third-world continent that had "aptly demonstrated that the difference between us and the rest of the world was not due to geographical location, but the determination to excel".
He concluded that if Nigeria were to reach the stability required to establish internal trade between the two countries, and if the new partnership for Africa's development, or Nepad, were to succeed, Nigeria and South Africa had to lead the way in economic cooperation.
Edited by: Mariaan Webb© Reuse this Comment Guidelines (150 word limit)
Other Video News
International consulting engineering company Royal HaskoningDHV (RHDHV) has appointed Salani Sithole as South African MD, effective March 1. Sithole has been with the company for six years and, prior to joining RHDHV, held various positions in engineering consulting,...
Recent Research Reports
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
This Week's Magazine
National flag carrier South African Airways (SAA) is in an advanced stage of renegotiating its deal with European airliner manufacturer Airbus to acquire A320 single-aisle (or narrow body) aircraft. The aim is to replace ten of the aircraft still on order with five...
Worldwide, the main thrust in the ports industry over the past decade or more has been to increase efficiency. Traditionally, ports have been run by engineers and mariners and, in the past, increasing a port’s capacity was achieved by expanding the harbour. “That has...
What do you do when an elephant has a toothache? You call Dr Gerhard Steenkamp from the University of Pretoria’s (UP’s) faculty of veterinary science, Onderstepoort, one of only two elephant ‘dentists’ in the world.
The 2015 Sanlam/Business Partners Entrepreneur of the Year (EOY) competition was launched earlier this month in Johannesburg, with the main focus on creating and inspiring entrepreneurs to create jobs and boost the economy.
In a recent letter to the editor that I sent to Engineering News (Concerns regarding South African portion of Square Kilometre Array) and in a follow-up article elaborating further (We must start preparations to build our own synchrotron light source), I stated my...