GOVERNMENT DIRECTORY / ULTIMATE BUSINESS 2018/2019

So when pinned with the question why Africa why now? Shane Hiralall, Commercial Director of African Directory Services (Pty) Ltd simply said, “Instead of asking ‘why and now’, I would rather ask ‘how’ and then do it or you’d simply lose out on a greatly timed opportunity” At a glance: The analysis of the South African economy Recently President Jacob Zuma said the government is committed to ensuring ease of investment in the country by cutting red tape and by making South Africa a more business-friendly destination for investors. He said the National One Stop Shop will be launched in quarter three of the current financial year. He said the One Stop Shop will focus on permits, licensing and registrations across government. In line with the National Development Plan (NDP), South Africa is lowering the costs of doing business, improving skills and innovation and targeting state support to specific sectors, especially labour absorbing sectors. It is therefore no surprise that R54 billion have been awarded to local manufacturers and suppliers in the past year. The Minister of Trade and Industry Minister Rob Davies urged local consumers to support, buy and consume local products and goods in order to create jobs and grow the economy. Africa's economy, what once was traditionally rooted in the primary sectors as the result of a wealth of both mineral resources as well as favorable agricultural condition, has seen a dramatic structural shift in output. Thus previously a nation driven by its tertiary sector, has now shifted to focusing on the rise of technology, e-commerce, financial and other services to become a knowledge-based economy. Manufacturing, retail, financial services, communications, mining, agriculture and tourism are amongst the key sectors that contribute to the gross domestic product and ultimately serve as the core heartbeat of the South African economy. Looking at its manufacturing sector, it can said that South Africa, has established a successfully developed and diversified base in manufacturing that has conveyed its ability and resilience to fiercely compete in the big league on a global scale. Furthermore, led by the Department of Trade and Industry’s (DTI) Industrial Policy Action Plan (Ipap) in order to achieve structural development and increase competitiveness of South African manufacturing, this sector ensures the stimulation and growth of services and other activities, whilst achieving specified outcomes such as economic growth and increased employment. Research highlights that in 2013, the manufacturing sector became known as the nation’s largest contributor to the South African economy, contributing 15.2% to the nation’s overall GDP Agriculture and the agro-processing sector is abuzz in South Africa as it is host to an array of climates – from sub-tropical to semi-arid and dry. This results in a diverse collection of livestock, fish, and crops being available. The agricultural industry includes the process- ing of freshwater aquaculture and agriculture, exotic and indigenous meats, nuts, herbs and fruit. As well as the production and export of deciduous fruit; production of wines for the local and export market; confectionary manufacturing and export; and the processing of natural fibers from cotton, hemp, sisal, kenaf and pineapple. Research goes on to show that the agro-pro- cessing sector alone with its high potential growth is worth R49 billion and can boast having created approximately 207 9093 jobs and still counting, led by South Africa’s world-class standard infrastructure, counter seasonality to Europe, vast biodiversity and marine resources, and competitive input costs make the nation a valuable and top contender on a global scale. This sector went on to beat the growth of manufacturing sector by 2%. According to statistics, agriculture as a percentage of GDP has decreased over past four decades. This implies that the economy has gradually become more advanced. In 1960, agriculture constituted 9,1% of the total economy; this has decreased to only 2,2% in 2013. Though this decrease would seem to be a negative trend from a farmer's perspective, it signals that the South African economy is reaching maturity as the secondary and tertiary sectors become more important. ULTIMATE COMPANIES IN SOUTH AFRICA TM PAGE 309 PTO...

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