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Discussing Radical Economic Transformation at the SA-German Chamber’s Members’ Lunch

19.09.17 AHK Süd-Afrika - News-Hauptkategorie

Johannesburg – Members of the Southern African-German Chamber of Commerce and Industry came together for another entertaining and thought-provoking members’ luncheon on Tuesday 12 September 2017. This was the first Members’ Lunch, which welcomed the Chamber’s new president, Ms Sabine Dall’Omo of Siemens Africa. The speaker and guest of honour at this event was Mr Ian McCloy, a founding member of the Africa Strategies Network (ASN).

The ASN specialises in assisting individuals and organisations wishing to invest in Africa through consulting services, funding for SMEs, training and mentoring, and various workshops and seminars.

In his presentation, Mr McCloy stressed the significant role that the individual cultures in the different parts of Africa play in a company establishing itself throughout the continent. He also gave a brief explanation as to the ultimate goal of achieving Radical Economic Transformation (RET), a familiar term to the audience, as well as the desired outcomes of such a transformation as suggested by various political players in the past. These desired outcomes ranged from establishing “a factory in every village” and ensuring that “Africa is at peace with itself and South Africa is prosperous and unified” to seeing “White Monopoly Capital” dismantled.

Mr McCloy compared RET industry indicators in Germany and Sub-Sahara Africa and concluded that, if Africans were to produce even a tenth of their German counterparts, this would already be enough to radically transform the African economy. He drove home the point that, although the public sector must initiate certain actions in order to transform the local economy, the brunt of this task falls on the private sector by providing energy solutions (especially in the context of mineral resources), offering training solutions and growing a qualified labour force, set up more industrial processes in high-population zones in Africa (i.e. industrial hubs), and encourage entrepreneurship around these hubs.

Mr McCloy’s strongest recommendation to companies looking to expand into Africa is to establish themselves and focus their efforts in the prominent industrial hubs of particular regions (e.g. Johannesburg, Nairobi, Lagos, etc.).

Mr McCloy’s speech ended with a brief question and answer session, before members enjoyed a meal and networking session.

Southern African-German Chamber of Commerce and Industry
The Southern African-German Chamber of Commerce and Industry has been operating in Southern Africa for over 65 years. Bringing together potential business partners is one of our key service offerings. We foster business links between Germany and Southern African companies through comprehensive and target group oriented researches, workshops, seminars and business delegations that bring you in contact with competent business partners in your industry. Contact the Chamber to get connected with German and southern African businesses at info(at)germanchamber.co.za; or call +27 11 486 2775.

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