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SA participates in Nordic-Africa Bussines Association Summit

Deputy President David Mabuza to fly the South African flag high in Norway. The South African Deputy President David Mabuza to fly the South African flag high in Norway.

Mabuza to visit Norway

October 05, 2019

Staff reporter

Gauteng, South Africa: Deputy President David Mabuza will next week undertake a working visit to Oslo, Norway, to participate at the Nordic-Africa Business Association (NABA) Summit.

The working visit, set to take place from 7 to 9 October, will see Mabuza engage various investors and business leaders from Nordic countries as part of South Africa’s drive to attract foreign direct investment into the country.

“Deputy President Mabuza is also expected to hold bilateral meetings with the Government of Norway to further strengthen fraternal relations between the two countries,” The Presidency said in a statement. 

The Summit is the Nordic region’s leading business conference focusing exclusively on Africa, with the aim of expanding and strengthening economic ties between the Nordic region and the African continent.

The theme for the 2019 Summit, is ‘Better Business Together’ – which emphasises dialogue, networking and confidence building as part of supporting the economic agenda of South Africa and the African continent.

The Summit will see South Africa and Nigeria, which are Africa’s two leading economies, share the platform and represented by their Deputy Presidents.   

“This year’s Summit is envisaged to receive hundreds of guests, investors and policy makers from more than 35 countries drawn from the Nordic countries comprising of Denmark, Finland, Iceland and Sweden.

“The Nordic region is an important source of Foreign Direct Investment into South Africa with more than 150 companies operating in South Africa. The Norwegian Sovereign Wealth Fund has invested more than R90 billion in South Africa. Bilateral trade with the region exceeds USD 2 billion,” the Presidency said.

South Africa’s participation in the Summit will focus on strategic sectors such as energy, finance, technology, health, the oceans economy, and agribusiness.

The Presidency said the deliberations at the NABA Summit will also include economic opportunities presented by the operationalisation of the African Continental Free Trade Agreement.

“In this regard, the Deputy President will also host an exclusive South African Investment Round-Table with CEOs from top companies in the region as part of positioning South Africa as a preferred investment destination,” the Presidency said. 

Norway remains a strategic partner for South Africa’s development, supporting the country’s efforts to build its domestic and regional capacity in important areas such as renewable energy, science and innovation, skills development, the oceans economy, maritime safety, climate change and environmental governance.

Mabuza will be accompanied by the Minister of Trade, Industry and Competition, Ebrahim Patel, Deputy Minister of International Relations and Co-operation, Alvin Botes, South African business delegation and senior government officials.