Moonshot approach will help SA escape middle-income trap
Manufacturing needs an innovation-led approach aimed at vigorously stimulating exports of sophisticated products
SA has suffered from a prolonged period of deindustrialisation since the end of apartheid, with the manufacturing industry’s share of GDP falling from about a fifth in 1994 to 13%.
We have had an industrial policy that has supported the growth of a world-class, albeit foreign-owned, automotive sector. However, it has not done a lot for domestically owned employment-intensive sectors...