In line with the National Development Plan, investment in infrastructure remains a policy priority with public-sector infrastructure investment plans totalling R987.4bn over the medium-term.
The Beverages Association of South Africa (BevSA) warned today that the proposed discriminatory tax on sugar sweetened beverages (SSBs) has the potential to reduce the industry’s contribution to South Africa’s Gross Domestic Product (GDP) by R14bn. This is the equivalent of 0,4% points of GDP growth in 2016. The Association announced the release of its formal response to National Treasury’s policy paper on this topic.
On Friday 10th June, the Saldanha Bay IDZ Licencing Company (SBIDZ-LC) held their second annual Suppliers Awareness Day at the Protea Hotel in Saldanha Bay. The purpose of the event was to provide general feedback around enterprise development, the progress of the IDZ’s infrastructure and opportunities, as well as the policy changes from National Treasury’s Supply Chain Management landscape affecting local businesses. The day saw wide representation from stakeholders from the business development community and was attended by over 100 delegates.
According to Bloomberg, business leaders in South Africa said that, following meetings with President Jacob Zuma and Finance Minister Pravin Gordhan, they would contribute expertise and investments to help the country avoid a credit-rating downgrade, accelerate small business growth and create jobs.
Sasol has obtained approval from the Mozambique Council of Ministers for its field development plan (FDP) that will see further hydrocarbon resources developed to support Southern Africa growth.
The Group of 20 (G20) leaders have called for more collective action to achieve strong, sustainable and balanced growth that can be universally beneficial.
The Coega Development Corporation (CDC) has announced plans to develop a R2bn aqua-farming facility on 300 hectares of land at the Coega industrial development zone outside Port Elizabeth in the Eastern Cape.This follows the completion of a feasibility study indicating that local conditions were well suited for the commercial cultivation of marine animals and plants, including abalone, finfish and seaweed, Engineering News reported.
The Western Cape government will focus on opening opportunities for citizens and creating conditions for economic growth, Premier Helen Zille said on Friday.