Ford invests $1 billion (R15.8) to modernize, expand South African manufacturing for all-new Ranger; adds 1,200 jobs

Ford Motor Company today announced an investment of US$1.05 billion (R15.8 billion) in its South African manufacturing operations – marking the biggest investment in Ford’s 97-year history in South Africa    February 2, 2021 FacebookTwitterLinkedInShare via EmailPrint Ford Motor Company today announced an investment of US$1.05 billion (R15.8 billion) in its South African manufacturing operations – marking the biggest investment in Ford’s 97-year history in South Africa. It also represents one of the largest-ever investments in the South African automotive industry, boosting Ford’s production capability and creating new jobs. “This investment…

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The investment case for SA drug manufacturing

President Cyril Ramaphosa recently addressed the nation about his economic reconstruction and recovery plan. One of the proposals for job creation is a focus on reversing the decline in local manufacturing. The pharmaceutical sector has sadly been a prime example of this trend. Although the economic argument for reviving local manufacturing is a compelling one, it is not the only one. Alarmingly for us, over the past 15 years, South Africa has seen 40 pharmaceutical manufacturing facilities close. Most of these facilities were owned by multinational companies and manufactured their…

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Automotive industry investment in SA set to decline

    Planned capital investment by South Africa’s automotive industry, which increased in 2019 to its second highest level on record at R7.2 billion, appears set to decline until there is a global recovery in GDP growth and export markets from the impact of Covid-19. A new National Association of Automobile Manufacturers of South Africa (Naamsa) confidence index, which anonymously canvassed the opinions of each of the CEOs of the seven automotive original equipment manufacturers (OEMs) in South Africa, revealed that 64.7% of them believe investment expenditure declined in the…

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22 On Sloan: Innovative start-ups show sky’s the limit

JOHANNESBURG – According to a 2018 World Bank report, 66 percent of sub-Saharan Africans are unbanked. Financial inclusion remains elusive in Africa and most times access to it for micro, small and medium-sized businesses (SMMEs) remain a key challenge for these to scale. In South Africa, where various studies have identified racial-profiling as one of the impediments for the previously disadvantaged, raising funding remains a thorny issue. Last year, we collaborated with the World Bank to do research on SME finance gaps in South Africa and the result deepened our understanding…

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FNB, Fetola launch initiative to help grow social entrepreneurs

JOHANNESBURG – First National Bank and Fetola Business Growth Professionals on Monday announced the launch of a small and medium-sized enterprises (SMEs) development initiative to help grow South African social entrepreneurs. The two-year “Social Entrepreneurship Impact Lab” will empower 25 existing ‘for profit’ businesses who already operate in the social entrepreneurship space and have genuine potential to scale. Entries for participants opened on September 2. The launch of the programme forms part of FNB’s broader strategy to provide meaningful support to SMEs as productive drivers of inclusive economic growth and development in South…

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Durban secures billions in investment

DURBAN is entrenching itself on the international market as a city for investment, with more than R4 billion worth of greenfield investment and an additional R7.5 billion planned expansion on the cards. This is the result of the Invest Durban Unit, which is responsible for driving all investment promotion, foreign direct investment (FDI) facilitation and foreign investor aftercare in eThekwini. The investment is expected to create more than 500 new manufacturing and service jobs. In a report tabled at the Economic Development and Planning Committee meeting on 23 August, the…

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Deloitte thought leadership shapes world stage debates

Cape Town, 3 September 2019 – As a global strategic partner of the World Economic Forum (WEF), Deloitte South Africa will play host to a number of important discussions around issues and opportunities facing the African continent when more than 1000 global leaders meet in Cape Town from 4 – 6 September 2019.   Under the theme, Shaping Inclusive Growth and Shared Futures in the Fourth Industrial Revolution, this year’s WEF Africa summit will bring together leaders from politics, business, civil society and academia.   “The discussions at WEF Africa…

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Mozambique’s vast gas fields will fuel growth, says Grindrod

JSE-listed freight logistics and financial services group Grindrod is planning further investments in Mozambique, which is on the cusp of an economic growth spurt thanks to its vast offshore gas fields. “Mozambique is set for take-off,” says CEO of Durban-based Grindrod Andrew Waller, adding that the country’s nascent gas fields are getting the attention of international oil and gas companies. On the back of this, Grindrod is planning to make further investments into Mozambique. Grindrod CEO Andrew Waller. Image: Moneyweb Waller was speaking to Moneyweb at the company’s interim results presentation…

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SA needs a radical policy shift to save the economy

SA needs a radical policy shift to save the economy

There is no way an economy that does not manufacture goods massively will be able to create jobs, and land reform is crucial. South Africa is facing serious socioeconomic challenges with the population growth rate now standing at 58.78% and the unemployment rate at 29.7%. BusinessTech of July 29 carried an article entitled “Foreign investors are ditching South African assets at a record pace”. It went further and said “overseas investors have sold a net $4.8 billion (about R73 billion) of South African equities and bonds in 2019”. “Outflows, particularly…

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Coca-Cola invests to protect SA’s watersheds

JOHANNESBURG – The Coca-Cola Foundation said on Monday it was investing US$1.275 million to replenish up to 2,800 million litres back into nature to address security in the country’s key watersheds. The foundation is the global philanthropic arm of the Coca-Cola Company and has since its inception in 1984 awarded more than $900 million in grants to support sustainable community initiatives around the world. Through the Replenish Africa Initiative (RAIN), the foundation is investing in five projects to remove invasive alien plants from main water catchment areas that feed major…

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