SA’s investment portfolio expanding in Ivory Coast: Ramaphosa

Reading Time: 2 minutes

President Cyril Ramaphosa says South Africa’s investment portfolio in Ivory Coast is expanding.

He was addressing the South Africa and Ivory Coast Business Forum in Pretoria on Friday.

President Ramaphosa says there are opportunities for the export of machinery, consumer goods, vehicles and paper.

In 2021, South Africa’s exports to Ivory Coast were worth about R1.6 billion.

According to Ramaphosa imports from Ivory Coast are also improving in products such as oil, cashew nuts and cocoa.

President Ramaphosa hosts Côte d’Ivoire counterpart President Alassane Ouattara:

By way of example, in 2021 the Development Bank of Southern Africa increased its investments in Côte d’Ivoire from R2.17 billion to R3.09 billion.

Two big South African banks, RMB and Nedbank, are financing a number of infrastructure developments in Côte d’Ivoire.

MTN’s footprint in Côte d’Ivoire is growing. “We were pleased to be at the launch of MTN’s new head offices in Abidjan during last year’s state visit.”

Multichoice, Sanlam and Investec are among the growing number of South African companies expanding their business in Côte d’Ivoire.

Last month, South Africa’s Department of Trade, Industry and Competition undertook an investment technical visit to Côte d’Ivoire with a group of black industrialists.

Ivorian Foreign Minister calls on SA and Ivory Coast to cement ties: