South African Business 2020 edition

MESSAGE PROFILE
Beyond the business and
economic realm, South Africa
is also in the Good Country
Index pegged as third out of 153
countries in its contribution to
International Peace & Security, 18th
for Science & Technology, and 31st
for its contribution to World Order.
This means that South Africa is not
only an economic force on the
African continent, but also a force
for “good” through its contribution
to international peace and security,
particularly in the African continent.
In a period of mounting
uncertainties in the global
environment, South Africa
remains an innovative and
inspiring nation. In this regard, the
sixth administration is focused
on enhancing the ease of doing
business in South Africa. To this
end the Department of Trade,
Industry and Competition’s
national Invest SA One Stop Shop
for investors aims to provide
would-be investors with the
necessary support to enter the
market. Several reforms are
underway to deal with regulatory
and administrative hurdles. The
country’s Special Economic
Zones, its incentives for investors,
its quality of life (and climate),
as well as an advantageous
geographical position and
infrastructure is an enabler for
business in the broader African
market environment. For
evidence of the above one need
to look no further than the World
Bank Logistics Performance
Index where South Africa ranks 33rd out of 160 countries. This also
illustrates the infrastructural and enabling regulatory environment
the country creates.
It is to this end important to note another inspiring aspect of the
South Africa of today. According to the EY Africa Attractiveness Survey
(2019), South Africa is the fifth-largest source of Foreign Direct Investment
in the pan-African economy. This in itself says a lot not only about
the maturity and capability of South African private and publically
owned corporations to globalise operations, but even more about the
enabling financial, infrastructural, human-resource and doing-business
environment South Africa offers those interested in carving a niche in
the African marketplace.
During 2020, the African Continental Free Trade Area Agreement
will be operationalised. South Africa, as signatory to this agreement, is a
champion of African integration. The country’s National Development
Plan (Vision 2030) has a whole chapter devoted to measures to enhance
intra-African trade.
A further illustration of the fact that South Africa is proverbially open
for business is that since taking office, President Ramaphosa has been
championing an annual South Africa Investment Conference. At the first
conference in 2018, major local and international corporates pledged
close to US$20-billion towards investment in South Africa. This conference
will be a standing feature on the country’s annual calendar going forward.
It is impossible to summarise all the unique features of the South
African Nation Brand. But one thing that is certain is that the country’s
geographic, linguistic, cultural, economic and religious diversity
inspires creativity, and positions the country as a compelling trade
partner and investment destination.
During 2020 South Africa will chair the African Union. In the same
year the African Continental Free Trade Area will come into effect. It
has therefore never been a better time to engage with, and explore
new opportunities not only in South Africa, but in the free trade area
as a whole.
With all of this said, it is also important to be reminded of the fact
that while the country has many hidden gems, and surprising innovation
capabilities, South Africa is a nation in transformation. The seven key
priorities of the sixth administration are all geared to enable positive and
constructive change and transformation in society, the economy, and
the way South Africa interacts with the world.
If you have never considered travelling to, or doing business in
an inspiring and innovative South Africa – all we can say is: the time
is now.
5 SOUTH AFRICAN BUSINESS 2020