Johannesburg: SA-Nigeria trade volumes have swelled notably over the course of the past decade. Whereas in 2001, total bilateral trade amounted to just USD3.2bn, last year total trade breached USD36.6bn, implying an almost twelvefold leap in the space of a decade. However, in 2012, 83% of total SA-Nigerian trade was accounted for by South African imports of Nigerian crude oil. Quite clearly, this component of SA-Nigeria trade has been responsible for much of the recent leap in ties. Indicatively, where SA exports to Nigeria have grown by a relatively modest 130% since 2002, SA imports from Nigeria have swelled by almost 750% in the same time period.
Hong Kong: Bafana Ndendwa has conflicting feelings when he sees the increased presence of Chinese companies in Africa. On one hand, the managing director of a construction company in South Africa believes companies such as his can learn from their Chinese counterparts who are doing business in the continent. On the other hand, those companies are cutting into his profits. "I have lost many projects to Chinese companies because they offer much lower construction costs," Ndendwa said. Even though Ndendwa said he thinks co-operation between African countries and China should continue, he fears the possibility of being put out of business, and he has called on African governments to better protect the interests of the local people.
Tokyo: Between August and October 2012, the Japan External Trade Organization conducted its latest survey on the business operations of Japanese-affiliated firms in Africa. This was the first time the survey had been conducted since 2007. One of the aims of this survey was tocontribute to the Tokyo International Conference on African Development (TICAD) to be held by the Japanese Government from June 1 to 3 this year. The survey covered areas such as future business outlook, challenges in business, requests for Japanese government support and more. Below is a summary of the results.
Abuja: Nigerian President Goodluck Jonathan and his South African counterpart Jacob Zuma will discuss ways to boost trade between Africa's two biggest economies during talks in Cape Town this week. Jonathan will leave Abuja on Monday for a two-day state visit ahead of the World Economic Forum on Africa, which opens in Cape Town on Wednesday, a statement from his office said. He will discuss with Zuma and top South African government officials "ways of improving trade and economic relations between Nigeria and South Africa," it said.
New Delhi: The developing country collaborations are becoming increasingly important in the recent period, especially after the US recession in 2009, followed by the Greek crisis in the EU. The BRIC (Brazil, Russia, India and China) is one such forum where the leading emerging economies are sharing a platform to discuss issues pertaining to development challenges (Goldman Sachs, 2003). The BRIC forum in 2010 has been expanded to emerge as BRICS, by inviting South Africa in the group. BRICS has evolved as the role model for the developing countries at large by building a sustainable dialogue on major policy issues on the lines of the present G-8.
New Delhi: India’s trade with Africa has doubled in the past four years, from $24.98 billion in 2006– 07 to $52.81 billion in 2010–11. This steady upward path on the trade front is being supported by stronger investment ties, with Indian companies in Africa totaling $1.52 billion in 2009–10. With the leadership on both sides committed to providing a businessfriendly environment, bilateral ties are expected to continuously grow in scope and significance. On India’s side, economic growth is inevitably pushing the country to expand its footprint across Africa, including sourcing raw materials and energy to sustain industrial activities at home as well as securing new markets and consumers abroad for its expanding array of manufactured goods and value-added services.
Washington: Three months into the Obama Second Term - amidst a flurry of activity on the US-Africa trade and investment policy front - our colleagues at the Heritage Foundation, Brookings Institution, Corporate Council on Africa, and the Wilson Center, amongst others argue that there’s apparent ‘continuity rather than change in U.S. policy’ towards Africa; they suggest that the U.S. ‘has been slow to seize the opportunities availed by the new Africa;’ and also warn that ‘without a much better focused effort, the U.S. may lose the chance to play a substantial role (in) developing a region of major importance.’
Lagos: Nigeria’s fundamental principles of foreign policy have been fairly consistent since they were first espoused shortly after independence in October 1960. Yet the specific interests, priorities and emphasis of Nigeria’s foreign policy have continued to change and evolve in the context of the domestic and international environment. The main elements of the changing world and context are the following:
Pretoria: The Industrial Policy Action Plan (IPAP) 2013/14 – 15/16 is the 5th iteration of the three year rolling action plan and covers the last full financial year in the term of the present administration. It is located in the vision of the National Development Plan and forms one of the principal pillars of the New Growth Path. IPAP is predicated on the need to bring about significant structural change to the South Africa economy. The existing growth path is led by the consumption driven sectors, which are growing twice as fast as the productive sectors. The economy is import intensive especially with respect to value added products. Stronger domestic growth in the manufacturing sector is imperative. High structural unemployment is a constant, oscillating between 22,5% and 25% if the narrow definition is used.