Stakeholders from Nigeria and South Africa have called for stronger economic alignment, deeper investment flows, and faster implementation of the African Continental Free Trade Area (AfCFTA) as both countries seek to consolidate their position as drivers of Africa’s growth. The calls were made at the second edition of the South Africa – Nigeria Economic Diplomacy Roundtable, hosted by MTN Nigeria in Lagos as part of the 2026 South Africa Focus Week.
Underutilized Partnership
Speakers at the forum said while both countries remained central to Africa’s economic architecture, their partnership was still underutilized and required deliberate policy coordination and private sector collaboration to unlock its full potential. Acting Consul General of South Africa in Nigeria, Kgothatso Xulu, said Nigeria and South Africa account for over one-third of sub-Saharan Africa’s gross domestic product (GDP), making their cooperation critical to continental development.
“When South Africa and Nigeria align economically, the impact would not only be huge, but it would be a continent of change,” she said. She noted that despite progress, intra-African trade remains below 20 per cent of total trade on the continent, underscoring the need for stronger regional integration and value chain development. Xulu stressed that sectors such as telecommunications, digital economy, infrastructure, manufacturing and energy offered opportunities for both countries to build resilient economic partnerships.
Private Sector Collaboration
The roundtable brought together policymakers, investors and business leaders to explore ways of converting bilateral engagements into measurable outcomes. CEO of MTN Nigeria, Karl Toriola, who was represented by the Chief Marketing Officer, Onyinye Ikenna-Emeka, said the company’s operations across Africa demonstrated the potential of cross-border investment in strengthening economic ties. He noted that MTN has invested heavily in digital infrastructure, including over 135,000 kilometres of fibre across the continent, while its mobile financial service, the MoMo platform, supports millions of transactions.
According to him, Nigeria and South Africa are not just trading partners but standard setters for Africa’s economic integration. Chairperson of the Nigeria-South Africa Chamber of Commerce, Ije Jidenma, also emphasized the need for stronger collaboration in infrastructure, energy, logistics and digital connectivity. She said economic diplomacy must go beyond dialogue to building trust and enabling joint ventures that can drive growth and job creation.
Regulatory Reforms Needed
The Nigerian Investment Promotion Commission (NIPC) said improving policy consistency and addressing regulatory bottlenecks remain key to attracting and retaining investors. Its Chief Executive Officer, Aisha Rimi, urged private sector players to engage government institutions to resolve investment challenges, noting that collaboration is critical to realizing AfCFTA objectives. “Without lifting barriers in all forms, the AfCFTA will remain a pipe dream. This is the time for collaboration,” she said.
In an interview with The Guardian, Director for Africa Bilateral Economic Relations at South Africa’s Department of Trade, Industry and Competition, Calvin Phume, said both countries must address structural and macroeconomic challenges to deepen trade. Participants agreed that the success of the partnership will depend on translating discussions into concrete investments and policies that improve market access and ease of doing business.
