Durban - Should two of the continents strongest
economies, Nigeria and South Africa, work together, Africa has the potential to
overcome poverty.
Businessmen from these two countries, speaking at the
World Economic Forum Africa session on Nigeria and South Africa relations at
the Durban ICC Wednesday afternoon, said increased collaboration and support
was key to making this happen.
Kuseni Dlamini, chairman of Massmart Holdings in SA and a
Young Global Leader, said with the cooperation between the countries,
inter-continental trade can be increased by 20 percent.
"This has the potential to reduce poverty. Yes there
are issues but we need to look beyond the ratings and the downgrades and focus
on an investment recovery plan so that the whole continent benefits," said
Dlamini.
He added that investment in small to medium term businesses
was where growth can be created.
"We need to give these businesses access to credit
and help them grow. It's easy to look to big business but we will see more
growth in this area. If South Africa and Nigeria collaborate the challenges
facing Africa will be a problem of the past and we can become a first world
continent in a generation," he said.
His counterpart in Nigeria, Danladi Verheijen, also a
Young Global Leader and co-founder and chief executive officer of Verod Capital
Management said Nigeria had one of the fastest growing economies.
"At one point Nigeria was one of the world's top
consumers of champagne. We were a highly consumer driven market. South Africa
can find growing markets in Nigeria and in turn Nigeria can find skilled labour
from South Africa," he said.
The panellists, which also included Haruki Hayashi,
executive vice president and regional CEO of Mitsubishi Corporation, concurred
that there should be greater investment in both countries to ensure their
economies strenghtened for the sake of the continent.
INDEPENDENT MEDIA
WEF TEAM