GGDA, Ghana forge stronger ties

At a recent business seminar organized by the Gauteng Growth and Development Agency (GGDA), CNBC Africa's Wole Famurewa had the opportunity to sit down with Saki Zamaxaha, the Group CEO of GGDA, to delve into the burgeoning business relations between Ghana and Gauteng. The event, aimed at fostering economic partnerships between the two nations, shed light on the historical ties that have long existed between South Africa and Ghana. As Zamaxaha highlighted, South Africa's economy, particularly Gauteng, plays a pivotal role in the African continent, boasting a GDP of over $100 billion and contributing significantly to the region's manufacturing sector. With a strong focus on exports, businesses in Gauteng are looking towards the African market for growth opportunities, with both East and West Africa identified as regions with exceptional potential. Ghana emerged as a natural partner for South Africa due to the deep-rooted economic relations between the two countries. The seminar aimed to explore investment prospects and enhance trade between South African and Ghanaian businesses. Zamaxaha noted that the early signs from the new Ghanaian government are promising, with a pro-business stance and a commitment to addressing issues that may hinder investment attractiveness. The recent decline in South African investments in Ghana, attributed in part to economic slowdowns, seems to be reversing course as signs of a modest economic upturn appear on the horizon. Sectors such as energy, water, sanitation, and manufacturing are regaining interest from South African companies, signaling a resurgence in confidence in the Ghanaian market. Looking beyond Ghana, Zamaxaha acknowledged the importance of Nigeria as a key player in the region. Despite current economic challenges, Nigeria's vast population and infrastructure needs present substantial investment opportunities for South African firms. The potential for collaboration in sectors like transport, energy, agriculture, and venture capital makes Nigeria an attractive prospect for future economic engagements. As the economies of both Ghana and Nigeria show signs of recovery and growth, South Africa is poised to leverage these opportunities for mutually beneficial partnerships and investments. With a renewed sense of confidence in the region, the outlook for strengthened economic ties between Gauteng, Ghana, and other African nations appears increasingly promising.