South Africa would continue to be an important source of new foreign investment in Africa, Trade and Industry Minister Rob Davies said on Tuesday.

Speaking at a Doing Business with Botswana forum, in Centurion, Davies reiterated South Africa's commitment to contributing to the development of Africa.

"We believe that South Africa's economy and the economies of our neighbours are interdependent and that our development can only be sustainable if we cooperate for mutual benefit with all our neighbours. South Africa is thus committed to utilising its technology, technical expertise and private sector capabilities to make a direct and meaningful contribution towards regional integration, economic growth and poverty alleviation on the continent," he stated.

The Minister said that most African countries had the potential to develop into modern industrialised states, but only if investments were extractive and had a sustainable developmental impact.

"Major infrastructure projects such as [the] Mmamabula power project and the Trans Kalahari Railway line (TKR) can unlock economic development. They can also raise consumer expectations, and encourage local producers to improve competitiveness. Developmental approaches to private procurement can also be an important driver of local business development," noted Davies.

Meanwhile, Botswana President Ian Khama, who is on a two-day State visit to South Africa, urged business people from both countries to discuss economic opportunities that could benefit the citizens of South Africa and Botswana.

Participants from both countries were encouraged to consider intra-Africa trade a priority in the current decade, as well as for future integration.