South Africa’s black industrialists are this week exploring trade and investment opportunities in Mozambique.
Led by the Department of Trade and Industry (dti), the delegation will participate in a Bilateral Business Forum with the Confederation of Associations of Mozambique (CTA).
The delegation, which also comprises representatives of the Developmental Bank of Southern Africa (DBSA), the Central Energy Fund (CEF), Export Credit Insurance Corporation of South Africa and members of the Board Based Black Economic Empowerment Advisory Council, among others, will also partake in business-to-business networking sessions and site visits.
Trade and Industry Minister Rob Davies said the mission which got underway on Sunday is undertaken to address the second pillar of the Black Industrialist Policy, which speaks to access to markets both locally and continentally.
“Mozambique forms part of the top-five South African partners on the continent and has since addressed a series of macroeconomic reforms designed to stabilise its economy. These reforms along with its political stability since multi-party elections of 1994 have led to dramatic improvements in its growth rate. It is of the outmost importance that we intensify the strength of our relations, especially in the area of economic cooperation and investment,” said Minister Davies.
Launched in March 2016, the Black Industrialists Programme was developed as an intervention to nurture, support and take black industrialists to the next level.
Cabinet approved the Black Industrialists Policy which aligns with the Industrial Policy Action Plan, the National Development Plan and the Nine Point Plan in November 2015.
On Sunday, Minister Davies said the trade mission to Mozambique is one of several missions that the dti has invested in, to ensure that Black Industrialists participate in Intra-Africa Trade opportunities, while also forging networks and partnerships with relevant businesses and industry associations with the market.
The trade and investment mission will conclude on Saturday