South Africa is powerful. Economically, politically and otherwise. I have met many Nigerians crying foul about the recent expansion of SA companies at their backyards. Of late, one of Nigeria minister, emphasised on the need for trade equality between the two countries. Accordingly, the Minister failed to acknowledge that Nigerian companies has no much to offer to SA. Which sector of SA economy would Nigeria find it easier to exploit? Communication (Covered and well regulated), Science and Technology (One of the best in the world), Mining (Far much advanced home breed companies are in charge), Agriculture (the best)
Southern African Invasion in Nigeria listed South African Companies operating in Nigeria as follows: MTN, Power Giant, Eskom Nigeria, South African Airways,South African Breweries (SAB miller), Stanbic Merchant Bank of Nigeria, Multichoice, Umgeni Water, Refresh products, PEP Retail Stores, Shoprite, LTA Construction, Protea Hotels, Critical Rescue International, South African-Nigeria Communications, Global Outdoor Semces, Oracle, Airtime just to mention a few of them. About 14 Southern African Companies have been contracted to collect revenues for PHCN. SEE MORE AFTER CUT>>>>>>
South Africa Wire Makers have seized nearly 50% of the Nigerian Wire Market and hospitality business. South Africa exports technology, they build heavy Industries, build cars and trucks. You need to see the Infrastructure in South Africa from Johannesburg to Pretoria and to Durban. You need to see their International Airports, the road networks and the Industries left and right as you move from Oliver Tambo International Airport to Pretoria. Nigeria is now under 5000 MW of electricity while South Africa has 45,700 MW. South Africa is a superpower. More than 100 South African companies are doing business in Nigeria across several industries, President Jacob Zuma said. “To date, over 100 companies are doing business in Nigeria, with the biggest investment being in the telecommunications sector.
“We welcome the participation of South African business in other sectors in Nigeria as well, such as engineering, construction, media, banking, retail, hospitality, oil and gas exploration and services.”
Zuma said there had also been keen interest from Nigerian businesses to invest and do business in South Africa across a number of sectors, Ventures Africa reports.
Zuma urged South Africans to also visit Nigeria and explore “this sister country, which has historically played a prominent role in the continent and in world affairs.”
Nigerian President Goodluck Jonathan was invited to visit South Africa by Zuma, who visited Nigeria Africa’s second-largest economy sometimes to discuss security problems facing the continent.
The invite coincides with the World Economic Forum (WEF) holding in Cape Town, South Africa. The Nigerian President’s visit has come at a time there’s a silent rivalry between the two counties about the size of the two economies.
According to Business Day (SA), if Nigeria’s growth rate remains at nearly 7 percent which is twice that of South Africa’s, the title of Africa’s heavyweight economy will stay in Nigeria within a few years.
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