SOUTH Africa has declared itself ready to take advantage of Brexit by strengthening existing business ties and cultivating new opportunities with the UK business community.
The message was delivered last night by a business delegation from South Africa’s KwaZulu Natal (KZN) at a London networking reception organised by the London Chamber of Commerce and Industry (LCCI).
Sihle Zikalala the KZN provincial Minister in the department of Economic Development, Tourism and Environmental Affairs said the region was keen to exploit any business opportunities that might occur after the UK pulls out of the Euro Zone.
“The Durban harbour has one of the deepest waters in the world for large ships to anchor, and KZN’s other advantage is that we are in the same time zone as the UK,” Zikalala said. “Durban also has direct connections with Sadc countries and there are many investment opportunities in KZN itself, including the renewable energy and business processing sector. We need partners to grow those industries.”
Pumi Motsoahae the CEO of Richard’s Bay Industrial Development Zone emphasised South Africa’s desire to be at the forefront of filling up the gap resulting from Brexit.
He said: “We are watching with keen interest to see what happens when the UK pulls out of Europe. We are ready to increase business relations with the UK which has been trading with South Africa for a very long time.”
Furthermore, Motsoahae said KZN had investment opportunities for component manufacturers, quality management training and up-skilling workforces.
About 100 business men and women from various business sectors in the UK attended the meeting, which is part of LCCI’s yearly trade missions to high growth markets worldwide, including countries such as Brazil, China, Qatar, West and East Africa and the UAE.