Ramaphosa urges Nigerian banks to set up in S/Africa | Dailytrust

Ramaphosa urges Nigerian banks to set up in S/Africa

President Muhammadu Buhari (L) welcoming visiting President Cyril Ramaphosa of South Africa to the Presidential Villa in Abuja yesterday
President Muhammadu Buhari (L) welcoming visiting President Cyril Ramaphosa of South Africa to the Presidential Villa in Abuja yesterday
  • Signs pacts with Nigeria on power, oil and gas, others

 

President of South Africa, Cyril Ramaphosa has urged Nigerian banks to set up branches in South Africa as the country signs more pacts with Nigeria on power, oil and gas, and other areas.

At a joint press conference at the State House when he visited President Muhammadu Buhari, the South African president said: “We are particularly encouraged by the interest from Nigerian banks and it has been recommended they work with the South African regulatory authorities to facilitate their access into the financial sector in South Africa.”

Recall that Nigeria’s Access Bank in June made its presence in South Africa with the opening of Access Bank South.

President Ramaphosa, who spoke about the new pacts, said: “At present, our countries have signed approximately 32 agreements and today we have added other agreements.”

President Muhammadu Buhari, said the signing of the pact was for the progress and prosperity of citizens of both countries.

‘‘Today has witnessed the signing of new Memoranda of Understanding between Nigeria and South Africa in diverse areas including youth development, women and child empowerment, and political consultations; critical areas that will lead to increased people-to-people contact.

‘‘Also, existing MOUs signed during previous Bi-National Commission meetings were also reviewed. These include MOUs on military cooperation, power, cooperation in the field of geology, mining, and mineral processing, oil and gas, and several others.”

Buhari said the inauguration of the Joint Ministerial Advisory Council on Industry, Trade and Investment, would enable the private sectors of the two largest economies in Africa to further promote economic cooperation and development.

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let me know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410