The South African manufacturing sector has shown a downward decline in production according to recent statistics from Stats SA. Factors contributing to this decline were the flooding in KwaZulu-Natal, load shedding, and the rising fuel and manufacturing costs that affected the entire economy. Businesses will therefore have to adapt to challenging market conditions.
The Chamber supports local area and sector development by providing the following:
1. Enterprise development - increasing awareness of opportunities for learning, development and links to expertise.
2. Networking events - enabling members to connect with new customers, suppliers, experts and decision-makers.
3. Support sector associations to strengthen their cluster facilitation capabilities.
4. Strengthening of dialogue with the public sector - towards more effective public investment, smarter service delivery, procurement efficacy and to stop doing what the private sector can do with greater efficacy.
Related Links:
Western Cape Government: Economic Development & Tourism
The Department of Trade, Industry and Competition (the dtic)
According to Brand South Africa, the Department of Trade, Industry and Competition (the dtic), has stated that South Africa’s manufacturing sector presents numerous opportunities to potential investors looking to diversify their portfolio.
The sector’s diverse industry means investors can pick the industries they wish to explore. Niche industries such as food processing, beverages, motor manufacturing and wood products have reached maturity and are ripe for foreign direct investment.
Despite the Coronavirus disrupting the economy, South Africa’s manufacturing sector contributed 13% to the GDP and almost 50% to total export earnings in 2020.
In the same year, basic iron and steel products accounted for R65.9-billion (9.5%) and food production, R60.7-billion (7%). However, motor vehicle production proved to be the mainstay, valued at nearly R165-billion (23.7%).
The newly established Manufacturing Sector portfolio committee will debate, action, collaborate and establish partnerships to facilitate the necessary change for the sector.
We welcome you to engage with us to improve the Manufacturing Sector.
