Breathing life into a ‘cannibalised’ sector

Special Economic Zones Authority (SEZA) aims to create opportunities for the Small, Micro and Medium Enterprises (SMMEs) by bringing value-adding investors to the country.

SEZA, a newly formed parastatal which falls under the Ministry of Investment, Trade and Industry (MITI), met with local editors on Wednesday to introduce the Authority to the media.

Besides sharing ideas on how the two can work together to bring developments to the country’s rural areas, SEZA rolled out its roadmap, which focuses predominantly on SMME empowerment.

SMMEs are regarded as the engine of growth in many economies due to the job opportunities they create.

Against this backdrop, SEZA Director of Investor Attractions and Monitoring, Joel Ramaphoi revealed they have set conditions for foreign investors.

One of those conditions is that potential investors should buy from local producers.

“We are going to make sure that they import after exhausting the local market,” said Ramaphoi, noting that local small businesses have died as they have been ‘cannibalised’ by existing corporates.

 

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