Nigeria and South Africa need to make up and get on with it

Nigerian President Muhammadu Buhari

Sign up and join thousands of professionals who receive the Nurmara Daily Brief e-mail – an indispensable, no-nonsense take on Africa-related business, policy and development.

Nigeria’s president Muhammadu Buhari starts a three-day visit to South Africa today, and will meet with his counterpart Cyril Ramaphosa for talks on how to strengthen ties between Africa’s two biggest economies.

This includes “social and cultural relations”, which is code for mending ties after last month’s anti-foreigner violence in South Africa, resulting in a high profile diplomatic falling out.

Let’s hope this is fruitful, and the two also find time to focus on political, and especially economic relations.

These are notable, with trade between the two estimated at $4.5 billion last year. Nigeria is an important market for big South African companies like MTN and Shoprite, which in turn are important investors for Nigeria.

Put differently – like it or not the two need each other, particularly against the backdrop of dimming economic prospects in both.

More importantly Africa needs its two biggest economies to get along. Their sluggish economies are a drag on growth and investment, which won’t be helped by political tension weighing down already precarious economic reform.

Engagement from, and cooperation between the two will also be vital if the African Continental Free Trade Area – which many hope will transform regional trade and investment – is to be meaningfully implemented.

In short, Nigeria and South Africa need to make up and get on with it.

This report reflects the views of the author alone, not those of How we made it in Africa.


Today’s picks

From the continent

Tunisia’s presidential election runoff will take place on October 13, the country’s electoral commission has announced. The vote will see political outsiders Kais Saied, an independent, and businessman Nabil Karoui face off. More: Africanews

At least 25 Malian soldiers have been killed, with dozens missing, in an attack on two army camps in the country’s central Mopti region. The incident comes amid floundering efforts to counter Islamist militancy in West Africa’s Sahel region. More: Al Jazeera

The global perspective

Mobile telecom tower infrastructure provider Helios Towers has reportedly priced its IPO on the London Stock Exchange at 115-145 pence per share, valuing the company at up to $1.79bn. Proceeds from the listing will go towards expanding its services, and possible new market entries. More: Reuters

The US has officially reopened its embassy Somalia, more than 28 years after closing it due to a civil war. The move reflects nascent steps towards stability in Somalia, which has been in a state of conflict for most of the last three decades. More: VOA

Sign up and join thousands of professionals who receive the Nurmara Daily Brief e-mail – an indispensable, no-nonsense take on Africa-related business, policy and development.