Market News

JOHANNESBURG, Oct 23 (Reuters) – A delegation of Singaporean companies is visiting South Africa this week to explore partnerships in manufacturing, logistics, and consumer goods, after trade between the two nations has nearly doubled over the past four years.

Enterprise Singapore, the city-state’s trade and enterprise agency, said that the mission, part of its Scale-Up Programme, aimed to connect participating firms with South African counterparts and potential partners across sectors, including agri-processing and industrial supply.

“South Africa and Singapore already enjoy a strong bilateral relationship, and many Singaporean companies are operating in the country already,” Rahul Ghosh, Enterprise Singapore’s Middle East and Africa director, told Reuters on Thursday.

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“In the long term, this will result in Singaporean businesses unlocking new opportunities for South African businesses for win-win outcomes, which is especially important at this critical juncture of global trade and investment uncertainty.”

REDRAWING GLOBAL TRADE ROUTES

The visit comes as shifting tariff regimes and supply-chain disruptions are redrawing global trade routes and prompting countries to forge new or strengthen partnerships to secure access to markets and materials.

The delegation includes steel infrastructure specialist Mlion Corporation, car-leasing firm Lumens, snack maker Cocoba, refurbished-device trader Mercantile Pacific, and industrial equipment supplier Chee Fatt.

Meetings are planned with major local and regional players, including Tolaram Group and Denmark-based FLSmidth, to discuss potential collaboration and investment opportunities.

Ghosh said manufacturing, agri-processing, and logistics had been identified as priority sectors.

Trade in goods between Singapore and South Africa reached $1.4 billion in 2024, almost double the levels recorded in 2020, official data shows.