Deal in line with framework of AfCFTA agreement
By Tajudeen Hamzat
A joint oil exploration deal may already be in the works between Ghana and South Africa, feelers from a state visit by President Nana Akuffo Addo to his South African counterpart have revealed.
Giving an insight into the contents of the discussions between both leaders, South African President, Cyril Ramaphosa noted that his Ghanaian counterpart had briefed him of fresh initiatives being undertaken by the West African nation in the area of oil exploration to which South Africa had been invited him to partner.
Analysts say that the proposed deal fits in most squarely with the first element of the ongoing drive to implement the proposed African Continental Free Trade Area agreement, AfCFTA, which aims to unify the 1.2 billion continent in the world’s single largest free trade bloc.
It will also be a win-win for both countries as with its successful take-off, Ghana would be further strenghtening its standing as one of the world’s fastest growing economics even as South Africa would have more favourable oil import terms.
President Nana Akufo Addo of Ghana