Thursday, October 21, 2021

    Zuma: Economic outlook for Africa remains promising

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    Babatunde Akinsola
    Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

    rp_Jacob-Zuma-South-African-President.jpgSouth Africa President, Jacob Zuma said on Thursday that

    In spite of the turbulence affecting the global economy, the economic outlook for Africa remains promising.

    Zuma spoke at a business forum taking place in Pretoria on the sidelines of Zimbabwe’s President Robert

    Mugabe’s two-day state visit to South Africa.

    He said that an integrated Africa had the potential market of 2.6 trillion U.S. dollars, adding that a prosperous and

    growing African economy is good for the continent’s development.

    The forum provided an opportunity for business people of both countries to exchange views on how South

    Africa and Zimbabwe can work together to advance economic cooperation for mutual benefit.

    Zuma said that an integrated Africa offers many opportunities for mutually- beneficial trade and investment

    partnerships between the two countries.

    He however pointed out that intra-regional trade and sustained growth on the continent should be

    preceded by enabling technical and transport infrastructure.

    In addressing these challenges, various African countries have signed the Tripartite Free Trade Area (TFTA).

    One notable initiative already launched under the arrangement is the Tripartite North-South Corridor

    Investment Programme.

    Zuma said he was honored to champion the North-South Corridor initiative on behalf of the African Union.

    “It will unlock many opportunities in the continent,” Zuma said.

    “The business delegations have the requisite skills in the various sectors and hope that true partnerships will be established to advance the bilaterial economic cooperation”, Zuma said. (Xinhua/Naija247news)

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