Investing in South Africa
Deputy President Cyril Ramaphosa is expected to visit Iran to re-establish trade ties and formally
authorise the formation of the Iran and South Africa Joint Business Council. South African exports
to Iran fell from R1.5-billion in 2007 to R250-million in 2014; oil imports also declined.
Manufacturers need to work with the state – which has several incentive and support strategies –
to raise South Africa's competitiveness, says the trade and industry minister. The clothing and
textile sector, for example, has several clusters and programmes to help manufacturers.
The Coega industrial development zone has contributed almost 15 000 jobs to Eastern Cape and
has an investment value of nearly R3bn. It has huge potential to grow more entrepreneurs,
placing it well for the country's plan to boost black industrialists.
In a first for the continent, Facebook has opened an office in Johannesburg. The social
networking platform is already a central part of people's lives in Africa, it says. And with more
than a billion people in Africa, "we want to do more to help people and businesses connect".
The 94 megawatt wind farm north of Cape Town, West Coast One, is up and running. Costing
R2.2-billion, it will offset an estimated 5.6 million tons of carbon dioxide over the next 20 years.
The project is a partnership between Engie, Investec and Kagiso Tiso Holdings.
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