Skip to main content

Businesses debate SA's way forward

| Economic factors

South Africa is losing its status as the gateway to the rest of the continent as it struggles to attract investors.

The Gauteng Growth and Development Agency held a debate in Sandton on how to revive the economy.

Peter Draper, managing director of Tutwa Consulting Group, said: “We have become more of a gatekeeper than a gateway. Other gateways are emerging. Kenya into East Africa, Mozambique into Southern Africa and even Angola in the future to access the copper fields. If you want a financial or air gateway, Dubai is more of a gateway for Africa than Johannesburg."

Draper identified the Expropriation Bill, the Promotion and Protection of Investment Bill and the Private Security Bill as proposed legislation inhibiting economic growth.

Gaba Tabane, the director of consulting at Deloitte, said: "[The] government must invest time in talking to young entrepreneurs about the government-to-government relationships they have, so that small businesses can make contact with their counterparts elsewhere.

"These relationships are meant to reduce export duties. This is what the Chinese do best," he said


Related Articles

Official fuel prices for December: margin hikes...

By: Jason Woosey - IOL The Department of Mineral Resources and Energy (DMRE) has announced the official petrol and diesel price adjustments for December.

South Africans predicted to spend R224bn this f...

According to the results from the sixth annual Summer Spending Survey by short-term lender Wonga, South Africans are expected to spend an estimated R224 billion over this year’s festive season.

Grocery budgets: Say goodbye to these foods as ...

By: IOL Business Fried chips, potato salad, baked or roasted potatoes, and stews and curries with potatoes – whichever your favourite, you may have to do without if you have any hope of spending less on groceries in the coming weeks. And don’t p...

Black Friday shoppers spent R4.5bn, with jewell...

By: TimesLive Black Friday 2023 levels reflected tougher economic conditions in South Africa, but sales totalled R4.5bn.

December fuel price outlook is good news for bo...

By: IOL With a week to go until December’s fuel price sums are finalised, the outlook is positive for both petrol and diesel.