Deputy President David Mabuza is currently on a working visit to Oslo, Norway. He’s attending the Nordic-Africa Business Association (NABA) Summit which is held at the Clarion Hotel.
The summit began on 7 October 2019 and it will conclude on the 9th. According to the South African (SA) government, Mabuza’s participation will allow him to “engage various investors and business leaders from Nordic countries as part of SA’s drive to attract foreign direct investment into the country.”
The deputy president is also expected to hold bilateral meetings with the government of Norway. He hopes to be able to strengthen “fraternal relations between the two countries.”
This year the theme for the summit is “Better Business Together.” It promotes dialogue, networking, and confidence building to support SA and the African continent’s economic agenda.
Nigeria’s Deputy President Yemi Osinbajo joined Mabuza at the summit to represent the continent. SA and Nigeria are the leading economies in Africa.
NABA expects attendance by hundreds of guests, investors, and policy makers from more than 35 countries. Some will be from Nordic countries which comprise of Denmark, Finland, Iceland, and Sweden.
The region is an important source of Foreign Direct Investment for SA. It has more than 150 companies operating in our country.
The Norwegian Sovereign Wealth Fund has invested more than R90 billion in SA. Bilateral trade with the region amounts to more than USD 2 billion.
SA’s participation at NABA will be focused on strategic sectors such as energy, finance, technology, health, the oceans economy, and agribusiness. Deliberations there will also “include economic opportunities presented by the operationalisation of the African Continental Free Trade Agreement.”
In this regard, Mabuza will host an exclusive SA Investment Roundtable with Chief Executive Officers (CEOs) from the biggest companies in the region. The roundtable’s purpose will be to try and position SA as a preferred investment destination.