Issued by: Department of Foreign Affairs
5 June 2001
President John Kufuor of the Republic of Ghana will be visiting South Africa from 5 to 8 June 2001. The principal aims of his visit are to hold a bilateral discussion with President Mbeki in Durban, as well as attending the Southern Africa Summit of the World Economic Forum (WEF) in the city. The visit will be the first paid by President Kufuor to South Africa since his inauguration as Ghana's President in January 2001.
During the meeting in Durban on the morning of 6 June 2001, both Presidents will concentrate on matters of bilateral interest, such as the operationalising of the respective agreements on Trade and on Defence Training and Technical Co-operation, concluded in Accra in October 2000, during President Mbeki's State Visit to Ghana. In addition, it is expected that both Presidents will also touch on matters of concern to the African continent, such as conflict resolution, promotion of the Millennium African Recovery Plan (MAP) and initiatives aimed at pursuing the African Union. Ghana, which has a proud record of international peace-keeping, is expected to share some of its experiences, given South Africa's recent entry into this realm of international relations.
The expected focus of President Kufuor's attendance of the WEF summit in Durban will be to energise South African business and investor interest in Ghana. His government envisions establishing a new Golden Age for the private sector and it is expected that South African companies are going to make use of this opportunity to explore investment opportunities in Ghana.
Within the West African region, Ghana and Nigeria represents the major export market for South African goods. In 2000, South African firms exported R676.1 million worth of goods to Ghana as compared to R24.9 million of imported goods. These figures, although relatively low in global terms, reflect growth as compared to the previous years (R574.3 million exports and R23.5 million imports in 1999).
By December 2000, there were about 24 South African companies who had invested in Ghana, the largest being Gold Fields with a stake of US$200 million in the Tarkwa Mine. Interest is also being shown by major companies outside the mining sphere with the South African Breweries having since 1998 acquired the majority shareholding in Accra Breweries Limited (ABL) which is listed on the Ghana Stock Exchange. The Profurn Group (operating as Barnets) has opened a large network of retail stores in Ghana while Stanbic Bank maintains a branch in Accra.
It is also expected that the democratisation process taking place in Ghana will have a positive effect in the entire West African region and would serve as model to be emulated by the other countries in the region.
For more information contact Ronnie Mamoepa at 082-990-4853