Market News

By Williams Anuku

Cyril Ramaphosa, President of South Africa, has announced a new visa policy for Nigerians, saying investors and tourists could apply for a visa without submitting passport.

The South African President revealed this on Tuesday at the opening of the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town, which President Bola Tinubu attended.

According to him, South Africa has simplified its visa processes to facilitate travel for Nigerian business people and tourists, with measures such as five-year multiple entry visas.

He noted that the gesture was to create a favourable environment, especially to simplify 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.

“As we mark 30 years since the establishment of diplomatic relations, we see a bright future for our relationship. Our strong bonds of friendship provide a firm foundation for more meaningful economic cooperation.

“Nigeria is host to a number of 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.

Ramaphosa also acknowledged the Nigerian government’s reforms to further strengthen and foster a business environment that offers assurances to investors, including from South Africa.

He said his administration will continue with its efforts to improve the ease of doing business in South Africa. We want to enable investors to operate, trade and pursue opportunities in various sectors.

“We look forward to seeing more Nigerian companies investing in South Africa,” he said.

The South African leader said Africa’s development and the challenges facing countries of the Global South would be firmly placed on the G20 agenda.

“It will be the first time the G20 Leaders’ Summit will be held on African soil. We will seek to galvanise support for the AU’s Agenda 2063 as we pursue an inclusive global agenda.

“For South Africa, it is our view that in shaping global discourse, programs should be tailored to ensure that in our societies, no one is left behind,” he said.