Market News

By Baba Martins

South African President Cyril Ramaphosa has announced that tourists from Nigeria can now apply for visas without submitting their passports.

The president also disclosed that Nigerian businessmen and tourists who qualified for the process can be “granted a five-year multiple entry visa.”

Ramaphosa spoke on Tuesday at the opening of the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town, South Africa.

The South African leader said his country has simplified its visa processes to facilitate travel for Nigerian business people and tourists, with measures such as five-year multiple entry visas.

He said, “Our efforts to create a favourable environment include our simplified visa process for Nigerian business people to travel to South Africa. Qualifying Nigerian business people can be granted a five-year multiple entry visa,” he said.

He also pledged South Africa’s commitment to removing constraints on greater investment and addressing the challenges faced by companies in both countries.

Ramaphosa said, “Nigeria is host to several South African companies. South Africa has always been open to Nigerian business, reflected in the number of investments and operations established in this country.

“But there is much more we need to do. We need to remove the remaining constraints to greater investment, just as we need to address some of the challenges that companies have experienced.

Nigeria, S/Africa to sign agreement on early warning signs

The two countries have agreed to finalise the five-year-old Memorandum of Understanding (MoU) on the Early Warning Mechanism, which monitors threats of violence, acts of criminality, and reprisals involving nationals of both countries.

The decision was revealed on Tuesday in a communiqué released at the end of the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town.

In the wake of the attacks on Nigerians in South Africa, the two countries agreed to establish an Early Warning Mechanism to curb future attacks.

The joint communique, read by South Africa’s Minister of International Relations and Cooperation, Ronald Lamola, said the two leaders underscored the urgent need to finalise the MoU.

“To this end, it was agreed that the MoU will be signed no later than March 2025, during the visit of the South African Minister of International Relations and Cooperation to Nigeria for political consultations,” Lamola said.

On the escalating crisis in the Middle East, the two countries adopted a joint position calling for an immediate ceasefire and a return to diplomacy.

They emphasised the importance of upholding international humanitarian law, ensuring the protection of civilians, and promoting sustainable peace in the region.

Meanwhile, President Bola Tinubu has also called for a strategic partnership between Nigeria and South Africa towards economic integration and shared prosperity for the growth of the African continent.