The Department of Trade and Industry (the dti) will lead a delegation of twenty-five businesspeople on an Investment and Trade Initiative (ITI) to Kinshasa and Lubumbashi in the Democratic Republic of Congo (DRC) from 14-19 September 2014.

The ITI is part of government’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 following sectors: agriculture and agro-processing, infrastructure, built environment, energy, mining and capital equipment, electro technical, and medical equipment, solutions and supplies.  

Planned activities during both legs of the ITI include business seminars, mini-exhibitions and business-to-business meetings, providing opportunities to create market penetration for South African products and services in the DRC.

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

Minister Davies adds 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 participation in the reconstruction and development of the DRC can be 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,” says Minister Davies.

Trade relations between SA and the DRC have shown positive growth from a relatively low base, with bilateral trade being 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, 335 bn whilst its imports from the DRC amounted to R100m.

”the dti continues to support the Bas Congo Spatial Development Initiative (SDI). The Bas Congo corridor provides Kinshasa with a crucial link to the coast and highlights trade and investment opportunities in the DRC. A number of South African companies do business in the DRC and are seen to be contributing positively to the development of DRC communities,” adds Minister Davies.

During his State Visit to the DRC in October last year, President Jacob Zuma urged businesspeople from South Africa and the DRC to explore ways to increase trade and investment between the two countries.

Issued by: The Department of Trade and Industry