Western Cape exports into Africa are on an upward trajectory with more than half of the province’s top 15 export destinations now on the continent. According to Cornelis van der Waal, head of Wesgro’s research division, exports to African countries increased by more than 5% in 2018 and now exceed $3 billion. “Africa is the largest destination region for Western Cape exports, followed by Europe,” he said. Speaking at the launch of the trade agency’s latest research report on trade and investment into Africa, Van der Waal said despite the year-on-year growth a vast amount of export potential on the continent remained untapped. “The African market is continuing to grow due to urbanisation and by our calculations this will result in an additional $1.1 trillion expenditure on the continent. A total of 30% of this will be in food and beverages, 25% in housing and utilities, and 15% on transport,” said Van der Waal. “This is important to keep in mind when we look at our trade relations to understand what we are currently exporting versus what the opportunity is.”
