Coega is best-connected industrial or special economic zone in Africa
IF ONE takes a conventional and — dare I say it — colonial viewpoint on the prospects for a commodity producer such as SA, then the signs aren’t good.Bringing home the seriousness of the challenge facing the country is the announcement on Monday by Kumba Iron Ore that it would be laying off more than 4,000 workers and contractors. Other mines will be under similar pressure — World Bank analysts expect prices for 37 of the 46 commodities the bank monitors to fall this year.Economists and investors at the World Economic Forum held in last month in Davos, Switzerland, were almost unanimously pessimistic about short-to-medium-term prospects for countries in Africa and elsewhere that are reliant on commodity exports.Those commodity exporters that continue to see themselves as pure suppliers of rock and dirt to the world, and a market for the finished goods made from the minerals that are shipped out without any value being added, are stuck in a colonial mind-set.It is a vicious circle — ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.