Nigeria and South Africa, two of Africa’s largest economies, are actively working together to boost economic cooperation between each other. They're both planning to make this work by enhancing their trade relations through private sector engagement.
They've started hosting events and making policies that will make it easier for businesses to operate across borders. They believe doing this will further foster their economic cooperation.
Recent events include a private sector engagements in Roodepoort and Johannesburg. The South Africa-Nigeria Private Sector Engagement Session events, organized with MTN Group, happened on April 30, 2025, while the most recent one happened on May 2, 2025, in Johannesburg.
At the Johannesburg event, Minister of Trade, Industry, and Competition Parks Tau addressed emphasized a renewed commitment to boosting economic cooperation between the two nations. The initiatives focus three primary objectives: identifying trade opportunities, addressing barriers encountered by businesses in both markets, and exploring collaborative strategies to support political support.
All these objectives align with the African Continental Free Trade Area (AfCFTA) goals. Minister Tau described Nigeria’s submission of its AfCFTA tariff concessions as a significant step toward strengthen economic integration.
DTIC and MTN session
The South Africa-Nigeria Private Sector Engagement Session that was organized with MTN Group by the Department of Trade, Industry, and Competition (DTIC) in collaboration with MTN Group, this session was happened on April 30, 2025. This session was hosted at MTN’s Head Office in Roodepoort.
Its objectives included: deepening economic cooperation, supporting trade and investment facilitation, creating a platform for dialogue between public and private sector stakeholders, and engaging South African companies operating in Nigeria and those interested in exploring new commercial opportunities.
In accordance to these initiatives, South Africa changes travelling policies by introducing a new visa regime that gives Nigerians 5-year multiple-entry visas and simplifies Visa applications for them. This means Visa applications no longer require passport submission to get approval.
The migration policy was changed to streamline the Visa processes and reduce administrative burdens on business and tourism visits so that stronger trade ties can be enhanced between both countries. Nigerian companies can now invest in South Africa with easier movement of people and goods.
These collaborative efforts between the two nations target many sectors just for the purpose of unlocking the full potential of the bilateral trade and investment. Major sectors targeted are: manufacturing, digital economy, agriculture, infrastructure, financial services, energy, automotive manufacturing, pharmaceuticals, critical minerals, and more.
What you need to know
The economic relationship between South Africa and Nigeria can be traced back to colonial and apartheid eras, when both countries played a big roles in continental economic and political renewal.
Currently, Nigeria accounts for approximately 64% of South Africa’s trade in West Africa. This indicates that the these collaborative efforts will yield a good result.
Meanwhile, it's important to let you know that these effects are part of commitments made during the 11th Session of the Nigeria–South Africa Bi-National Commission (BNC) in December 2024, which agreed to convene the inaugural meeting of the Joint Ministerial Advisory Council on Trade, Industry, and Investment (JMACITI) in the 2025/26 financial year.
JMACITI was launched in December 2021 during the 10th BNC in Abuja, and at inception, it's aimed at strengthening bilateral economic relations and coordinate joint initiatives under AfCFTA.
