With the recent news that manufacturing production decreased by half a percent in February 2015 compared with February 2014, there is a critical need for interventions that will bolster and boost South Africa’s manufacturing industries.
Seasonally adjusted manufacturing production decreased by 0,8% in the three months ended February 2015 compared with the previous three months. Seven of the ten manufacturing divisions reported negative growth rates over this period.
“Manufacturing recovery remains stifled by the lack of energy and water supply security, which is what impacted 2015’s first quarter growth results. Manufacturers and government therefore urgently need opportunities such as the Manufacturing Indaba to reach a common view of how to address these challenges,” says Coenraad Bezuidenhout, steering committee member of the Manufacturing Indaba and Executive Director of the Manufacturing Circle, which lobbies government and advocates for South Africa’s biggest manufacturers.
The second annual Manufacturing Indaba will address the reasons for the decrease in South Africa’s manufacturing production, seeking to boost the sector that is critical to growing South Africa’s economy.
“A strong and innovative manufacturing base is one of the backbones of a flourishing economy that is creating jobs,” says Liz Hart, Managing Director of the Manufacturing Indaba. “We believe we can leverage our powerful collaboration of strategic partners to promote prosperity through manufacturing, science and innovation at this critical time,” says Hart.