South Africa and Namibia have signed multiple agreements in over 150 areas to improve their strategic relations.

"Our Ministers of International Relations tabled a report at the Bi-National Commission where they reported on up to 159 areas of agreement that they have worked on in the past few days," South African President, Cyril Ramaphosa said, following the South Africa-Namibia Business Forum held in Namibia last week, SA News reported on Sunday.

He added, "This business forum was presaged by those agreements that they have been working on for all this time," adding that both nations will be able to improve over 150 areas with these agreements.

Both countries have reached agreements in four specific areas -- green hydrogen, developing cross-border value chains to boost industrialization and economic development, promoting higher levels of investment in each other's economies, and facilitating deeper private-sector relations.

Considering the green hydrogen in South Africa, the president said the country is in the process of finalizing a Green Hydrogen Commercialisation Strategy. Meanwhile, Namibia is also implementing its green hydrogen strategy.

"We can either go it alone as South Africa and Namibia or we can position this part of the west coast of the African continent as a key green hydrogen region," Ramaphosa said.

The president pointed out that both countries have what it requires to be successful, noting that they have "raw materials, ranging from critical minerals to agricultural raw materials" and "technology, capital, an increasingly skilled and educated workforce, and infrastructure."

"A number of value chains can be identified," Ramaphosa added. "One of these relates to our use of critical minerals to ensure that manufacturing takes place on the African continent."

Ramaphosa also invited Namibian business owners to expand their operations by setting up businesses in South Africa, adding that South African companies can collaborate with Namibia's government and local businesses.

He continued, "In order to boost investment, we agreed earlier today to request our Ministers of Trade and Industry to work towards establishing a financing facility for industrial and productive development projects."

The president urged Namibian businesses to check out the benefits they would get by getting involved with the South African firms in Namibia and vice versa.

He concluded by acknowledging the two major decisions taken during the business forum: "To deepen cooperation to attract private sector investment in agreed areas of cooperation" and "to establish a South Africa-Namibia Business Council to serve as a public-private sector platform for coordinated and concerted actions."

The Namibia-South African Business Forum and Exhibition was held on Oct. 13 at the Windhoek Country Club in Namibia under the theme of "Forging a New Era of Mutually Beneficial and Reciprocal Trade and Investment Relations."

Hydrogen fuel is considered 'green' when produced using electricity derived from renewables such as solar and wind