MANUFACTURING SECTOR
Cyril Ramaphosa’s ‘new dawn’ needs vision and smart programmes for reindustrialisation
At the heart of the upheaval in SA in recent years is the poor performance of the economy, underpinned by an evolving political settlement that has not benefited the majority. In his inaugural state of the nation address President Cyril Ramaphosa made industrialisation and increasing investment the main priorities for reviving the economy, announcing an investment conference and jobs summit to take place later this year. He has just kicked off an international drive to lure investors. These are positive steps. The South African economy needs a substantial increase in investment for reindustrialisation to take place. But what is really required for Ramaphosa’s "new dawn" to be realised? A study by the Industrial Development Think Tank at the University of Johannesburg identifies key issues linked to "structural transformation" taking place in SA. This involves investment to move productive resources to more diversified sectors and sophisticated activities; producing a greater range o...
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