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?”.
The National Department of Tourism has established a R142.5 million Green Tourism Incentive Programme (GTIP), which they will run over a three-year period (FY 2017/18 to FY 2019/20), with a key objective of encouraging privately-owned tourism enterprises to move towards cleaner and renewable energy sources.
Let’s not beat around the bush- Key decisions made by the finance Minister Pravin Gordhan in the 2016 Budget speech will impact your business growth and survival in this tough economic climate. The Minister had his job cut out for him as he made tough decisions to ensure that companies can reach their projected turnover goals for the next financial year resulting in the growth of our economy.
If you want to expand and increase your turnover in the next financial year here are the developmental funding opportunities identified from the budget speech 2016 per industry:
Whilst Africa’s boom of a decade ago, when it was hailed as the new frontier, may be struggling to hold its place in the spotlight due to global conditions and their effect on emerging economies – Africa is still coming off of a low base economically and has huge potential.
This potential can be seen to be constrained by energy supply issues or the lack of energy in itself can be seen as BIG BUSINESS – either way, Africa needs an Energy plan for more consistent supply at better rates.
Sure an economies cycle of growth and decline is never over but most people I know are pessimistic (at best) about the future of our economy and being in a sector that looks for growing businesses I found myself asking – where is the light?
A recent research report by McKinsey Global Institute, South Africa’s Big Five: Bold Priorities for Inclusive Growth provides a view into the enormous opportunity within the South African economy.