SA BUSINESS DELEGATION ARRIVES IN THE DRC TO LOOK FOR OPPORTUNITIES

SA BUSINESS DELEGATION ARRIVES IN THE DRC TO LOOK FOR OPPORTUNITIES

A twenty five-member delegation of South African business people has arrived in Kinshasa, in the Democratic Republic of Congo (DRC) for the first leg of the Investment and Trade Initiative (ITI) that has been organised by the Department of Trade and Industry (the dti).   .

The ITI is part of the dti’s Export and Investment Promotion Strategy that focuses on targeted high growth markets with the objective of creating investment and export opportunities for South African companies and of promoting South Africa as a trade and investment destination. 

The delegation comprises of companies in the agriculture and agro-processing, infrastructure, built environment, energy, mining and capital equipment, electro technical and medical equipment, solutions and supplies sectors

The delegation kicks of its programme of activities in the DRC with a Business Seminar that will held in Kinshasatomorrow. The Congolese Minister of Economy and Trade, Mr Jean Paul Nemoyato Begepole, Minister of Industry and SMEs in the DRC, Mr Remy Musungayi, Congolese Minister of Planning, Mr Vunabandi Celestin, the South African Deputy Ambassador to the DRC, Mr Andrew Maswanganye, and the Acting Deputy Director-General of Trade and Investment at the dti, Mr Yunus Hoosen will address the seminar.

According to the Minister of Trade and Industry, Dr Rob Davies, the ITI to DRC will strengthen cooperation between the business communities of both countries through the possible formation of joint ventures and partnerships. 

Minister Davies added that the DRC is a strategic country for South Africa, with a domestic market estimated at 75 million people and bordered by nine countries with a potential market of 200 million consumers and it presents the largest market for South African products and services in Sub-Saharan Africa.

“South Africa’s post-conflict reconstruction strategy for the DRC includes infrastructure rehabilitation and development as well as the facilitation of investments into the DRC economy by South African entities. South Africa’s participate in the reconstruction and development of the DRC achieved by continuous engagement through government to government engagement and exposing South African companies to the DRC market to explore opportunities that exist. The DRC presents a wealth of opportunities in sectors like agriculture, construction, energy, ICT, transport and retail for South African companies,” said Minister Davies.

Trade relations between SA and the DRC have shown positive growth from a relatively low base, with bilateral trade heavily skewed in South Africa’s favour due to limited productive capacity on the part of the DRC’s economy. South Africa is the DRC’s biggest supplier of foreign goods and services, providing more than 21% of the country’s total imports. In 2013, South Africa’s exports to the DRC amounted to R12.335bn whilst its imports from the DRC amounted to R100m.