Ramaphosa: Upheavals in global economy present opportunity for a more Africa-focused trade

CAPE TOWN - President Cyril Ramaphosa believes the major upheavals in the global economy present an opportunity for a more Africa-focused trade and investment policy.

Ramaphosa said geopolitical tension, trade wars, and conflicts that are causing instability in key shipping corridors mean that South African businesses are now actively exploring new market opportunities on the continent.

The president was writing in his latest newsletter, focusing on deepening trade ties across Africa because of the new global trade tariff regime triggered by the United States (US).

Ramaphosa will this week attend the Africa CEO Forum in the Ivorian capital, Abidjan, where the government will be showcasing the country’s potential as a premier investment and trade destination.

The forum will be attended by over 3,000 CEOs, heads of state, and investors to explore potential partnerships.

Ramaphosa said the Africa CEO Forum takes place at a time of “much disruption in the global economy”, characterised by geopolitical tension and trade wars.

He said they support South African firms that are looking at new opportunities on the continent as the global trade environment changes.

Ramaphosa said they will be using the country’s G20 presidency to “amplify” the continent’s voice and focus global attention on Africa’s economic potential.