Economic relations between Singapore and Africa continue to expand, as bilateral trade in goods grew by 15 percent annually between 2019 – 2022 and hit $14.5 billion in 2022.

This was made known during the ongoing Africa Singapore Business Forum (ASBF) themed ‘Driving Africa’s Growth through Digitalisation, Manufacturing and Sustainability.’

“Singapore companies are recognising the value of diversifying their businesses to markets further afield and have been responding to our call to explore Africa,” said Tan Soon Kim, deputy chief executive officer – global markets, EnterpriseSG.

Source: Business Day