The Cape Chamber begins the year rejuvenated and eager to build on the growth of both our membership and service offering

For many the New Year is an opportunity to pause and reflect on what lies ahead and what we are leaving behind.  The Cape Chamber begins the year rejuvenated and eager to build on the growth of both our membership and service offering. 

For some the New Year may also arrive with a hangover, and that is certainly true of the South African economy which is still struggling with some bad habits, notably load shedding and inflation. January has already seen some ominous headlines to do with sluggish business activity and National Health Insurance, to go with generally bleak news on the international front.

However there are also some positive signs which come as a reminder that, no matter the economic indicator, one should always expect the unexpected – because therein may lie opportunity.

A case in point is the 35% surge in shipping traffic around the Cape since November as a result of the current security crisis in the Red Sea that has seen major shipping lines reroute their vessels in our direction. This provides an enormous opportunity for the maritime economy, if only we can remove impediments such as the current moratorium affecting the local offshore bunkering sector.

There are also whisperings of an interest rate cut later this year, and the foreign exchange rate is advantageous for exporters – so long as we can address our logistics challenges and get more product to market.

Finally, a word of warning to those New Year revelers partial to spurious hangover cures: beware the cool aid that comes with an election year. Lofty promises and fantasy economic fix-alls are not the remedies we seek as we gear up to confront this year’s business challenges. What we need is straight talk, clear sight, and a levelheaded determination to make this year better than the last.

John Lawson
CEO of the Cape Chamber of Commerce & Industry