The government’s move to drive industrialisation through localisation could put a brake on foreign investment and reduce the competitiveness of SA’s exports, according to a new report by the World Bank.
Localisation, viewed by critics as a form of protectionism, is a pillar of the government’s plan to revive distressed local industries such as sugar, poultry and steel. The policy was central to former trade, industry & competition minister Ebrahim Patel’s plans to increase trade within the continent. ..
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