South Africa to invest in Ghana's oil sector - President Zuma

South African President Jacob Zuma has assured that his country will continue to increase business investment in Ghana including the oil sector.

He disclosed that between 2003 and 2013, South African Businesses have invested over 60 billion rand in the Ghanaian economy.

“We have also agreed to further promote our economic relations. A number of South African companies have invested in Ghana which are significant and amounted to more than 64 billion rand between 2003 and April 2013” President Zuma said.

President Zuma also added that “We [Ghana and South Africa] have also agreed to deepen preparations in the field of science and technology.

Meanwhile, Ghana and South Africa have signed bilateral agreement in the areas of trade, transport and energy which is expected to see both countries exchange expertise and resources in that area.

Per the energy arrangement South Africa is expected to assist Ghana enhance its energy generation capacity to meet the growing demands of industries.

Speaking at a Joint Press Conference with visiting Jacob Zuma, President Mahama said it is the hope of both countries that the MOUs signed will enhance intra trade activities between them.