On Wednesday 23rd May 2018, Zahra and I attended the first ABSA Supplier Development Awards #SDAwards at The Empire in Johannesburg.
This pioneering awards ceremony has been launched by ABSA to recognise those corporates in South Africa who have gone above and beyond what is required of them in developing small business and their supply chains locally, to promote economic growth and transformation.
The Manufacturing Indaba 2018, held on the 19th and 20th of July at the Sandton Convention Center, covered general matters around the de-industrialisation which has occurred in South Africa, what opportunities lie in re-industrialising the country and promoting localisation.
Policy for localisation has been a prominent feature of the PFMA (Public Finance Management Act – National Treasury) and the B-BBEE codes through the “empowering supplier” status which requires that at least 25% of cost of sales, excluding labour cost and depreciation, must be procured from local manufacturers or local suppliers in SA.
The question from commerce is usually “where are the market opportunities?”.
It’s official, the Department of Trade and Industry (DTI) has extended the Black Industrialist Scheme (BIS) after hitting their first 100 industrialists a year earlier than targeted.