Cape Town – President Cyril Ramaphosa has underscored South Africa’s status as a favored investment location and a crucial entry point to markets and business prospects across the continent.
Ramaphosa spoke at the launch of a Procter & Gamble plant in South Africa on Tuesday.
Procter & Gamble exports products from South Africa to several African countries and plans to utilise the African Continental Free Trade Area for further expansion.
“As a clear demonstration of the value of trade between African countries, Procter & Gamble currently exports from South Africa to Namibia, Swaziland, Mozambique and Botswana. We understand that the company is set to supply the African continent from South Africa through the implementation of the African Continental Free Trade Area.
“The African Continental Free Trade Area will unlock opportunities for the development of export markets, enhance industrial bases and regional value chains.
President @CyrilRamaphosa is visiting the Procter and Gamble (P&G) South Africa plant this afternoon for the Investment Launch and Commissioning of Premium care products in Kempton Park, Johannesburg.#InvestSA 🇿🇦 pic.twitter.com/pv0aCTvcZk
— Presidency | South Africa 🇿🇦 (@PresidencyZA) November 7, 2023
“We expect the continental free trade area to reduce the cost and improve the ease of doing business in Africa,” he said, adding that government wants to make the movement of products, processes and people seamless as companies increase their footprint on the continent.
The president sees the free trade area as a means to boost export markets, enhance industrial bases, and reduce the cost of doing business across the continent.
He commended Procter & Gamble’s support for South Africa’s investment initiatives and highlighted their contribution to the country’s economy and job creation.
The president also praised the company’s efforts to promote local sourcing, reduce waste, and support various community initiatives.
Procter & Gamble is making strides to increase its footprint on the African continent, aligning with South Africa’s vision of becoming a global production hub.
Compiled by Betha Madhomu