Nigeria and South Africa Push for Stronger Economic Ties to Drive Africa’s Growth
- Nigeria and South Africa are being urged to deepen economic cooperation, boost investment flows, and accelerate the implementation of AfCFTA
- Stakeholders highlighted that both countries contribute over one-third of sub-Saharan Africa’s GDP, but still underutilise their partnership
- Participants agreed that stronger collaboration, consistent policies, and tangible investments are essential to improve intra-African trade
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Stakeholders from Nigeria and South Africa have urged a stronger alignment of their economies, increased cross-border investments, and accelerated execution of the African Continental Free Trade Area (AfCFTA).
Their shared goal is to reinforce both nations’ roles as key engines of Africa’s economic progress. These recommendations emerged during the second South Africa–Nigeria Economic Diplomacy Roundtable, held in Lagos and hosted by MTN Nigeria as part of the 2026 South Africa Focus Week.
Source: UGC
Participants noted that although both countries are central to Africa’s economic landscape, their partnership has yet to reach its full potential.
They emphasised the need for intentional policy coordination and deeper collaboration between the public and private sectors to unlock broader opportunities.
Untapped potential and key growth sectors
South Africa’s Acting Consul General in Nigeria, Kgothatso Xulu, highlighted the significance of both nations, which together contribute more than one-third of sub-Saharan Africa’s GDP.
She explained that closer economic alignment between the two could have transformative effects across the continent.
Xulu said:
“When South Africa and Nigeria align economically, the impact would not only be huge, but it would be a continent of change.”
Despite some progress, intra-African trade still accounts for less than 20% of total trade, pointing to the urgency of improving regional integration and strengthening value chains.
Xulu identified telecommunications, the digital economy, infrastructure, manufacturing, and energy as priority sectors where collaboration could foster resilient and mutually beneficial growth.
The roundtable brought together policymakers, investors, and business leaders focused on turning bilateral discussions into tangible economic outcomes.
Strengthening investment and policy
MTN Nigeria’s CEO, Karl Toriola—represented by Chief Marketing Officer Onyinye Ikenna-Emeka—pointed to the company’s pan-African footprint as evidence of how cross-border investments can deepen economic ties.
He noted MTN’s extensive infrastructure investments, including over 135,000 kilometres of fibre networks, alongside its mobile financial platform, MoMo, which facilitates millions of transactions across the continent.
Chairperson of the Nigeria-South Africa Chamber of Commerce, Ije Jidenma, stressed that collaboration must extend beyond discussions to building trust and enabling joint ventures that drive employment and economic expansion.
Similarly, the CEO of the Nigerian Investment Promotion Commission (NIPC), Aisha Rimi underscored the importance of consistent policies and the removal of regulatory barriers to attract sustained investment.
Source: UGC
Rimi called on both public and private sector stakeholders to actively dismantle obstacles and create real investment opportunities.
She reiterated that with both countries accounting for a significant share of Africa’s GDP, their partnership has the capacity to reshape the continent’s economic future.
She said:
"With Nigeria and South Africa accounting for over a third of Sub-Saharan Africa’s GDP; this partnership isn’t just important, it’s transformational."
Overall, participants agreed that meaningful progress will depend on converting commitments into concrete policies and investments that enhance market access and improve the ease of doing business.
Source: Legit.ng
