Opening the Door for Investment Between Cyprus and South Africa
Following the first official networking event organized by the Cyprus-South Africa Business Association (CYSABA), investment appears to be imminent between the two countries.
The Association, founded in June of 2014, aims to strengthen the trade and economic relations between Cyprus and South Africa.
The event, held under the auspices of the Cyprus Chamber of Commerce and Industry (CCCI), welcomed delegates of the local and international business community and presented the opportunities for further cooperation between the states.
Maria Zavrou, President of the Association, referred to the CYSABA’s mission to inform the respective business communities of the opportunities available in both countries. "The main pillars identified for business opportunities are financial services, investment firms, tourism, the health and wellness industry, shipping, oil and gas and the mining industry,” she explained.
The Trade Officer of Cyprus Embassy in South Africa, Anthony Mavrides, added that the banking and financial services sectors of each state are stable, having weathered the global financial crisis. Moreover, he noted, the Johannesburg Stock Exchange (JSE) now ranks amongst the top emerging markets in the world.
Within the framework of its strategy, the Association is set to organise an exclusive Business Forum this October in three major South African cities: Johannesburg; Cape Town; and Durban. This event, the CYSABA representatives expressed, will further promote business activities between the countries among select executives of the South African professional community.
SOURCE: GOLD NEWS