Africa's largest economies connect

South Africa and Nigeria have signed agreements signalling a new economic era.

South Africa and Nigeria sign agreements signalling a new economic era.

CAPE TOWN - Africa's two largest economies signed a series of agreements on Tuesday signalling a new era of cooperation between Nigeria and South Africa.

The Presidents' of the two countries penned several memoranda of understanding in Cape Town.

Nigerian President Goodluck Jonathan led a government delegation on a two-day visit to South Africa.

He met with President Jacob Zuma on Tuesday morning.

"We have witnessed the signing of agreements and memoranda of understanding. Our Ministers will ensure the effective implementation of these instruments," Zuma said.

The President also encouraged cross-border investment.

"Over 100 South African companies are doing business in Nigeria with the biggest investment being in the telecommunications sector. We welcome the participation of South African business in other sectors in Nigeria as well."