Can Nigeria and South Africa Lead Africa’s Economic Renaissance?

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Africa (Commonwealth Union) _ During the 11th session of the Nigeria-South Africa Bi-National Commission in Cape Town, President Bola Tinubu underscored the imperative for Nigeria and South Africa to collaborate for the continent’s advancement. Co-chaired with President Cyril Ramaphosa, the session highlighted shared ambitions and challenges for Africa’s two largest economies.

Tinubu emphasized the importance of moving beyond the signing of Memoranda of Understanding (MoUs) and focusing on actionable implementation. Reflecting on the commission’s 25-year history, Tinubu noted the existence of approximately 36 agreements but stressed that success hinges on their execution in both “spirit and letter.”

The President identified the youth population as the cornerstone of Africa’s potential, urging investment in skills and leadership development to catalyze economic growth. “Our young people represent the future, and we must empower them for the good of the continent,” Tinubu stated.

Calling for an anti-illegal mining group, Tinubu pointed to the exploitation of Africa’s natural resources by external forces, which perpetuates poverty and undermines governance. He also reiterated Nigeria’s aspiration for full membership in global alliances such as the G20, BRICS, and the BRICS New Development Bank, seeking South Africa’s support in achieving these goals.

Ramaphosa reciprocated Tinubu’s vision, emphasizing the need to dismantle barriers to investment and facilitate smoother business operations between the two nations. He announced streamlined visa processes, including five-year multiple-entry visas for Nigerian businesspeople and tourists, as a step toward strengthening economic ties.

Both leaders highlighted the need for vigilance against external forces wary of the alliance between these economic powerhouses, with Tinubu likening their unity to soaring eagles overcoming threats. Ramaphosa praised Tinubu’s reforms aimed at improving Nigeria’s business environment, assuring South Africa’s openness to Nigerian investments.

The session reaffirmed the Bi-National Commission’s role in fostering cooperation, with both nations pledging to monitor and implement agreed-upon initiatives. Their collaboration signals a united front in leveraging shared resources, youthful demographics, and strategic alliances to drive Africa’s progress on the global stage.

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