Low African intratrade of 16% ‘a cause for concern’

While Africa – a continent endowed with mineral resources and growth potential – had intratrade of merely 16%, the percentage of European countries trading among each other stood at over 40%, a Brics Business Council Infrastructure launch heard yesterday.

Brics refers to Brazil, Russia, India and South Africa – a platform aimed at strengthening and promoting economic, trade, business and investment ties among the four countries.

In urging business and government to push the frontiers of trade among African countries, Transnet group chief executive Siyabonga Gama told the gathered businesspeople, investors and academics that the low African intratrade anomaly was “a cause for concern”.

Said Gama: “As an African nation, we are inextricably linked – first and foremost – to our…

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