DIANNA GAMES: More hands-on work needed to rekindle SA-Nigeria business sparks

SA and Nigeria are open for business, President Cyril Ramaphosa said at the business forum that took place on the sidelines of the state visit by his counterpart Muhammadu Buhari last week.

This remark, platitudinous under most circumstances, had resonance at the event last week in Gauteng, given the hostility and condemnation of SA in the lead-up to Buhari’s visit, after the recent attacks on Africans from other countries, including Nigeria, by some South Africans.

I would really like to understand how SA benefitted overall from our relationship with Nigeria.

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BUSINESS MAVERICK: SA Central Bank’s gross reserves reach record highThe SA Reserve Bank’s gold and forex reserves rose almost $5-bn, or around 10%, in September 2019 to a record $54.9-bn. This is a double-edged sword as the increase came from fresh debt proceeds, which make the economy vulnerable on other fronts.
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