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Investment drive making waves in economy

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Friday, March 22, 2019

President Cyril Ramaphosa’s aggressive efforts to boost the country’s
stagnant economic growth are yielding results, according to figures released by
the South African Reserve Bank (SARB).

In the Quarterly Bulletin released on Wednesday, the SARB said inward
direct investment increased from only R26.8 billion in 2017 to R70.7 billion in
2018.

South Africa’s direct investment liabilities, however, reverted from an
inflow of R28.7 billion in the third quarter of 2018 to an outflow of R8.2
billion in the fourth quarter.

This, the report said, was due to the repayment of short-term loans by
South African subsidiaries to foreign parent companies.

President Ramaphosa in October last year hosted the inaugural South
Africa Investment Conference. During the conference, businesses pledged nearly
R290 billion worth of investment announcements over the next five years.

The investments were a culmination of a six-month investment drive by
the four envoys tasked with globetrotting in search of over R1.2 trillion worth
of investments over the next five years.

Former Finance Minister Trevor Manuel, Former Deputy Finance Minister
Mcebisi Jonas, businesswoman Phumzile Langeni as well as retired banker, Jacko
Maree, form part of the team of envoys searching for investors with deep
pockets. Presidential economic advisor Trudi Makhaya is also part of the
team. 

The SARB bulletin also highlights that portfolio investment liabilities
reverted from an inflow of R17.9 billion in the third quarter of 2018 to an
outflow of R33.9 billion in the fourth quarter, as non-residents disposed of
both equity and debt securities.

“Non-residents’ net sales of domestic equities of R15.7 billion in the
fourth quarter followed net sales of R7.4 billion in the third quarter, while
their net purchases of debt securities of R25.3 billion in the third quarter
reverted to net sales of R18.2 billion in the fourth quarter.

“Non-residents’ net purchases of domestic equity and debt securities of
R90 billion in 2018 were significantly less than the R279 billion in 2017,”
said the report.

Other investment liabilities changed from an outflow of R8.7 billion in
the third quarter of 2018 to a marked inflow of R113 billion in the fourth
quarter. The sharp reversal, the bulletin said, could be attributed to
non-residents extending loans to the domestic banking sector as well as an
increase in rand-denominated deposits and, to a lesser extent, foreign
currency-denominated deposits with the domestic banking sector.

“Other investment liability inflows nearly doubled from R61.4 billion in
2017 to R119 billion in 2018,” the SARB said. – SAnews.gov.za

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SA companies seek opportunities in India

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Monday, March 4, 2019

Local companies will today dip their toes in the Indian market as they participate in the Department of Trade and Industry’s (dti) Outward Trade and Investment Mission to New Delhi and Mumbai.

The trade and investment mission is aimed at increasing the trade of value-added goods and investment between South Africa and India.

Minister Rob Davies said the five-day mission will introduce South African companies to the Indian market. The mission will also give companies the opportunity to obtain export orders and generate trade leads.

“One of the dti’s strategic goals is to grow the South African manufacturing sector in order to promote industrial development, job creation, investment and exports. To achieve this objective, the department embarks on international missions in order to promote exports of South African value-added goods, and services to increase market share in markets located in various regions of the world,” said Minister Davies, ahead of the start of the trade mission.

The companies’ trip is funded by the dti through its Export Marketing and Investment Assistance Scheme. The objective of the scheme is to develop export markets for South African products and services and to recruit new foreign direct investment into the country. 

The mission will comprise trade and investment seminars, business-to-business meetings and site visits. Companies which will participate in the mission are operating in the agro-processing, defence equipment, electro-technical and leather sectors.

Davies said the mission is also part of the dti’s Integrated National Export Strategy (Export 2030) which is the country’s blueprint towards ensuring export promoting industrialisation to spur economic growth.

The strategy aims to increase South Africa’s capacity for exporting diversified and value-added goods and services to various global markets.

The trade mission follows on President Cyril Ramaphosa’s state visit to the south Asian country in January. The state visit was aimed at boosting economic and political relations between South Africa and India.

“The appetite of India businesspeople willing to do business with South Africa was whetted by the visit. Our businesspeople who will be participating in the mission will find the Indian companies ready and willing to engage concretely with the South Africans on matters related to trade and investment opportunities that can be explored through forging of new partnerships and joint ventures,” said the Minister.

Total bilateral trade between South Africa has increased significantly from R66 billion in 2012 to R107 billion in 2017.

The dti said that while South Africa enjoys a positive trade balance, the country’s exports to India are still dominated by primary commodities in the form of coal and to an extent gold while imports from India are mostly manufactured products.

“This indicates a critical need and an opportunity for South Africa to increase the export of the country’s manufactured products,” said the dti.

The trade mission will conclude on Friday. – SAnews.gov.za

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No experience for entry-level jobs is a game changer

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Thursday, February 28, 2019

From 1 April, job experience will no longer be a pre-requisite for those applying for entry-level jobs in the public service.

Deputy President David Mabuza said this when answering oral questions in the National Assembly on Wednesday afternoon.

This comes after President Cyril Ramaphosa made a call during his State of the Nation Address that experience will no longer be a prerequisite when applying for an entry-level job under the public employment programmes, in order to address the youth unemployment crisis.

“As for implementation of this pronouncement, the Minister for Public Service and Administration has issued a Directive to all government departments on its implementation, and the commencement date is the 1st April 2019. 

“In terms of this Directive, all the Departments are required to introduce a graduate recruitment scheme, and to identify graded posts based on the need identified in the departmental Human Resource Plan, and other service delivery improvement initiatives. 

“The Department of Public Service and Administration will soon be undertaking roadshows to further engage with national and provincial government departments on the implementation of this change,” he said.

In his State of the Nation Address, the President said government has decided that the requirement for work experience at entry-level in state institutions will be done away with.

In saying this, the President said young people needed to be given a real head start in the world of work and that they should not face barriers and hindrances as they seek to find work.

Addressing the National Assembly on Wednesday, Mabuza said the decision to remove the experience requirement is a game changer and will see a decrease in the high unemployment of suitably qualified young people.

“We have seen in the private sector other similar initiatives that also afford our unemployed youth an opportunity of a first time job, and we call upon all our partners in the private sector to embrace this change,” he said. – SAnews.gov.za

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Programmes to prepare youth for the Fourth Industrial Revolution

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Thursday, February 28, 2019

Deputy President David Mabuza says government is implementing programmes in a way that ensures that the country is prepared and does not lag behind in the Fourth Industrial Revolution. 

Mabuza said this when he fielded oral questions in the National Assembly on Wednesday. 

“…Government is alive to the changing environment and has committed to ensuring that key programmes are implemented to align our training and development with the demands of the Fourth Industrial Revolution. 

“We cannot afford to lag behind emerging global developments and that is why we must engage in a process of continuous innovation, research, skilling our people, in particular the youth, in order to meet the demands of today’s knowledge-based economy,” he said.           

ANC MP Cornelia September had asked Mabuza to unpack government programmes that are targeted towards youth and women with a view to addressing unemployment and how the programmes would prepare them for the Fourth Industrial Revolution. 

Mabuza said in everything government does, there is an understanding and clarity that the Fourth Industrial Revolution is “not a destination, but a reality of the moment”. 

He said the pace of change over the last few years has largely been shaped by technological disruption and innovation. 

“Already, there are sectors that are now supplemented by robotics and other artificial intelligence inventions. 

“Simply put, there are jobs that were previously considered as vocational but are now becoming technology-intense and require specialised knowledge and skills. We therefore have to keep up with these developments.”

Mabuza said it is precisely for this reason that the process is currently underway to appoint individuals to the Presidential Commission on the Fourth Industrial Revolution, as announced by the President in the State of the Nation Address in 2018. 

The commission will coordinate the development of South Africa’s national response through a comprehensive action plan to deal with the Fourth Industrial Revolution.

“As government, we recognise the need to make smart investments in research and development that support our industrialisation plan, including manufacturing, that will lead to the creation of more jobs,” Mabuza said.

The Department of Science and Technology (DST) is investing in a range of outreach interventions that enhance the capacity of young people and women to create employment opportunities for themselves and for others. 

The department also supports a number of accelerated training programmes in areas where there are dire skills shortages. This includes, for example, programmes providing training in data science and analytics.

“It also includes the mLab initiative that provides mobile application development support to youth-based enterprises. Through this programme, the DST is providing opportunities for more young people and women to interact with the technologies that will shape our future.

“Other initiatives include a network of Industrial Development Centres and technology stations where a large number of the beneficiaries are women and young people,” Mabuza said.

Getting youth and women on board 

Through the Department of Telecommunications and Postal Services, government is forging partnerships with key industry players in the Information Communications and Technology (ICT) space to implement programmes that prepare youth for the Fourth Industrial Revolution.

These programmes include the training of young people in various disciplines related to the 4th Industrial Revolution such as coding, data analytics and Blockchain.

“Our partnership with Google has, since 2017, benefitted 131 980 youth, 58% of whom are female.

“Through the South Africa Network Academy Programme, CISCO has, to date, trained 10 590 young people and has set a target of 15 000 in 2019.

“Over the past two years, the Huawei Seeds of the Future Program continues to expose students to advanced ICT knowledge,” the Deputy President said. 

In addition to this, Microsoft is involved in a new partnership programme in South Africa, targeting the training of a million youth by 2023.
    
“Young people will be the major beneficiaries of these training programmes. Government is also working on an enabling environment for e-commerce, which will go a long way towards enabling SMMEs to provide services and transact online,” Mabuza said.

Through its ICT Women Empowerment Programme, government has so far trained 450 women on digital skills to empower them with necessary skills required to participate in the Fourth Industrial Revolution. – SAnews.gov.za

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SA companies to sample Asian food market

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Wednesday, February 27, 2019

Gauteng businesspeople say they are ready to access the Asian market and secure opportunities during the 44th Foodex Trade Fair.

The companies, which are amongst the 30 companies that received financial support from the Department of Trade and Industry (the dti), will participate in the trade fair from 5-8 March in Japan. 

Foodex is regarded as Asia’s largest food and drink exhibition providing a platform for creating and expanding business opportunities.

The Managing Director of Blue Shirt Bakery, Gys Olivier, says the research that he has done as part of his preparation for the trade fair has shown that the Asian market provides good business opportunities for his products.

He reckons that as a player in this sector, he will be able to find clients for his products.

“I have made contact with some potential customers from Japan already and the good news is that they have shown interest in our range of products.

“We hope to build on that and secure some export business into Japan as well as the Asian region through connecting with interested parties at the trade fair,” said Olivier, whose confectionary company boasts reputable 30 years of experience in the production of edible foods.

These range from pittas, waffles and biscuits, which are distributed across major retail stores and the food service industry all over South Africa and the Southern African Development Community region.

The Director of Lentibex, an organic vegetable business manufacturing macadamia nuts, oil and butter, Thabo Mooketsi, says he has set his sights on establishing new market and distribution channels for exporting his goods and services to bolster his business profile as he intends to trade internationally.

Dr Rob Davies, the Minister of Trade and Industry, says participating in the trade fair will expose South African companies to available trade and investment opportunities and highlight their products and services in order to gain access to the multibillion rand Asian food and beverage market. –SAnews.gov.za

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Brokers compelled to register with Labour Department

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Wednesday, February 27, 2019

All labour brokers have to register themselves with the Department of Labour before getting into the business of placing work seekers in the job market.

This is according to the new draft regulations on the registration of Private Employment Agencies and Temporary Employment Services.

The regulations introduce a compulsory registration and certification system which enables the pre-screening of the applicants, helps to create transparency by identifying those participating in the market and their overall activities or types of services provided.

The registrar will issue the applicant with a registration certificate within 60 days of receipt of the application, provided that the necessary requirements are met, Labour’s Private Employment Agencies Director, Martin Ratshivhanda, explained.

These requirements include that the agency comply with all labour laws, has a verifiable physical business address, proof that the agency is registered with the Companies and Intellectual Property Commission (CIPC), proof of tax clearance certificate, proof that the agency is registered with a bargaining council, where applicable, as well as certified copies of identity documents of the owner, partners or shareholders of the entity.

Ratshivhanda says in a case where the registration is declined, the registrar will furnish the applicant with a letter containing reasons for its refusal of registration or inform the applicant in the letter issued that it has 30 days from the date of the letter to meet the requirements.

Under the proposed regulations, a registered private employment service or temporary employment service may not register for employment any non-citizens, unless the non-citizen has been issued with a South African identity document for permanent residence or granted asylum by the Department of Home Affairs.

Ratshivhanda cautioned stakeholders that under no circumstances can the labour brokers charge any fee to work seekers for providing work services other than the fees specified in the Government Gazette for specified categories of employees or for the provision of specialised services.

The department is currently holding public hearings to receive inputs on the four Draft Employment Services Regulations; advocate on the draft regulations and provide clarity where needed.

The public hearings are targeting stakeholders such as the National Economic Development and Labour Council (Nedlac) constituencies, government departments, municipalities, State-owned enterprises, employers, private employment agencies, temporary employment services and work seekers.

The closing date for public comments on the four regulations is 28 February 2019 and can be forwarded to privateeaservices@labour.gov.za; publicaregistration@labour.gov.za; foreignemployeeregulations@labour.gov.za; and workseekerregistration@labour.gov.za. – SAnews.gov.za

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Stimulus package to create jobs, boost economy

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Wednesday, February 27, 2019

Transport Minister Blade Nzimande has announced a R3.5 billion stimulus
and recovery plan with measures that will ensure that government gives priority
to the areas of economic activity that will have the greatest impact on youth,
women and small businesses.

“The stimulus and recovery plan consists of a range of measures, both
financial and non-financial, that will be implemented immediately to firstly
ignite economic activity, secondly restore investor confidence, thirdly prevent
further job losses and create new jobs, and fourthly to address some urgent
challenges that affect the conditions faced by vulnerable groups among our
people,” Nzimande said.

He said the R3.5 billion budget for the stimulus package will unlock
R13.1-billion investment in critical and strategic road infrastructure.

The Minister was on Tuesday, addressing a media briefing on the South
African National Roads Agency Limited (Sanral) announcement on key
infrastructure projects in response to the President’s Stimulus Package
projects.

The Minister informed the media on projects that are shovel ready –
those where the department is able to move from the design to construction
phases.

“Other measures we are immediately expected to implement as the
Department of Transport include expanding procurement from small business and
cooperatives, with a particular emphasis on township and rural economies, women
and youth,” the Minister said.

N2 Wild Coast Road projects

The Minister highlighted three shovel-ready stimulus projects on the N2
Wild Coast Road that are being implemented.

From Lingeni to the Msikaba Bridge, a 16.3km new single carriageway and
four lane undivided road with two interchanges are being constructed.

The project is valued at R976-million and will create more than 480
jobs.

A 17.7km new single carriageway road is being built between the Msikaba
and Mtentu Bridges. It includes one bridge and two interchanges at an envisaged
value of R1.1-billion. Some 550 jobs will be created.

A total of R853-million has been allocated to an 11.5km stretch of road,
with two bridges and two interchanges from Kulumbe to the Umtamvuna River.

“On all these projects – with a combined envisaged value of almost
R3-billion, we will spend more than R930-million on small and medium
enterprises and emerging contractors, many of them women and the youth,” he
said.

In KwaZulu-Natal, the planning of upgrades to the N3 between Durban and
Pietermaritzburg is at an advanced stage and construction is envisaged to
commence in mid-2020.

The first phase will include upgrades to the road between Cato Ridge and
Pietermaritzburg, key ridge alignments and improvements to the EB Cloete
interchange to a value of R13-billion.

Mpumalanga projects

Projects that are shovel-ready in Mpumalanga include the Thembisile Hani
Local Municipality, where there will be construction of the Tweefontein and
Kwaggafontein access roads.

These roads have a combined budget of more than R200-million and will
create some 600 job opportunities.

“We have also allocated R23-million to the Moloto Drainage improvements
with a similar amount envisaged for the upgrading of roads from gravel to
surface in KwaMhlanga,” he said.

In addition, to these major capital expenditure programmes Sanral also
has smaller community projects in the pipeline such as the upgrading of gravel
roads near Mbizana in the Eastern Cape; road safety improvements in the
Msunduzi local municipality in KwaZulu-Natal.

“We will also upgrade gravel roads in the uMngeni and Nquthu local
municipalities in KwaZulu-Natal; the new Dr Moroka level crossing bridge in
Rustenburg in the North West; the upgrading of the road from Tshikanoshi to
Malebitsa in Limpopo and critical road upgrades in the Mbizana local
municipality in the Eastern Cape,” the Minister said.

The Minister said there are at least seven shovel-ready projects which
are crucial to the success of South Africa’s Strategic Infrastructure Project –
SIP 2 – designed to unlock the capacity on the country’s most important freight
corridor.

Sanral CEO Skhumbuzo Macozoma said all the projects that were mentioned
will benefit from the initial R3.5 billion budget for the stimulus package.

“We are using the R3.5 billion to unlock an investment of R13 billion …
we will start with the allocation of R3.5 billion of the stimulus package
budget allocation and we will supplement that with Sanral’s conventional budget
to see the projects through up to a total investment of R13 billion,” Macozoma
said.

He said temporary jobs will be created during the implementation of
projects.

He said about 20 000 jobs will be created for the stimulus package over
a three year period.

“On average Sanral with its entire budget generates an equivalent of 15
000 jobs per annum which will include this tally, so there’s a specific target
of 20 000 for the stimulus package projects but the entire budget per annum, we
will do about 15 000 jobs,” Macozoma said.

He said these are jobs intended to build and create skills in
communities for people that benefit from the training to be able to move on to
other projects and get continuity of work.

“The presence in Moloto road will be for seven years, the presence on
the Wild Coast is envisioned for six years, the N3 project will be anything
between six years to eight years, in that regard you are able to create
employment numbers that we can bring back to full time jobs equivalence,”
Macozoma said. – SAnews.gov.za

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Black Industrialists projects attract R13.2bn

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Wednesday, February 27, 2019

The 131 projects that have been approved under the Black Industrialists
Scheme have resulted in increased investments and job creation.

“The approval of these 131 projects of black entrepreneurs has leveraged
over R13.2 billion of private-sector investment, about 9 500 new jobs created
and 8 900 retained in a wide range of manufacturing sub-sectors,” Trade and
Industry Minister Rob Davies said on Tuesday.

The Minister was responding to members of the Trade and Industry
Portfolio Committee on issues relating to his department that emanated from the
State of the Nation Address.

The Black Industrialists Scheme is the incentive programme of the Black
Industrialists Policy which aims to promote the participation of black
industrialists as manufacturers in key sectors of the economy as identified in
the Industrial Policy Action Plan (IPAP).

Going forward, Davies said the dti will increase efforts of providing
financial, market access, capacity building and technical support to approved
Black Industrialists in collaboration with state-owned companies, other
government departments and the private sector.

Davies further announced that in 2018, 22 trade missions and 20 national
pavilions were undertaken across the world, where the dti supported companies
to showcase their products and services.

Over 800 enterprises were assisted and approximately R4 billion export
sales were recorded.

According to him, 15 National Pavilions are planned and 864 enterprises
are expected to be supported in 2019. 

With efforts to revitalise industrial parks to enable them to serve as
catalysts for broader economic and industrial development in their host regions
(townships and rural areas), Davies said R300 million has been approved for the
second phase of the industrial park’s revitalisation.

To date, six Industrial Parks have been launched and funded to the value
of R511 million and four will be ready to be launched this year.

The Industrial Parks Revitalisation Programme is one of the flagship
programmes of government aimed at facilitating broad-based economic
participation to achieve inclusive growth, as well as facilitating the
transformation of the economy.

The Minister further mentioned that 2019 will see the launch of Eastern
Cape, Limpopo, Northern Cape and the Free State InvestSA One Stop Shops, in
addition to the operational offices in Pretoria, KwaZulu-Natal, Gauteng and the
Western Cape. 

These one-stop shops are critical to facilitating and increasing quality
investments into the economy, he said.

Meanwhile, the Minister announced that all contracts that were wrongly
issued for imports must be cancelled and re-issued according to localisation
regulations.

According to Davies, where the localisation regulations were applied,
there was an increase of investments and job creation, therefore as government,
he said they were not apologetic for applying localisations tools.

“It is therefore imperative not only to get the money back in some cases
but to cancel and re-issue contracts according to the localisation regulation.
We are pleased with the process of rectifying these import leakages as a result
of non-implementation and corruption of the programme,” said Davies.

Despite many challenges, the localisation programme faces, significant
investments, new capacity and capabilities have been created.

He said that collaborative platforms with global original equipment
manufacturer through inter alia technology and skills transfer programmes have
been realised, new products were developed and factories launched at the back
of rail localisation. – SAnews.gov.za

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Agriculture investment crucial for economic growth

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Tuesday, February 26, 2019

More investment is needed in the South African agricultural sector if it is to reach its full potential, says North West Premier, Professor Job Mokgoro.

“Every conversation around agriculture at the moment asserts that this is a sector that plays a critical role in the economy of many developing countries. In South Africa, as in many of these developing countries, the contribution that agriculture makes to efforts of employment is well documented,” said the Premier.

Speaking at the Potchefstroom College of Agriculture graduation ceremony recently, Mokgoro said about six million people’s livelihood is dependent on agriculture.

“This is about 10% of the South African population,” Mokgoro said, noting that agriculture is inextricably linked to key government priorities such as food security, exports and the foreign exchange.

At the ceremony also attended by acting MEC for Rural, Environment and Agricultural Development (READ), Dr Mpho Motlhabane, Mokgoro congratulated the 49 students who successfully completed their three-year diploma in mixed agriculture.

He assured them of opportunities in the sector.

“We remain adamant that the agricultural sector carries dynamic opportunities that present an upper hand to any young person who is passionate about it. The evolution of technology has made it even far [more] stimulating to be part of this sector,” he said.

The college is one of two State-owned colleges in the North West tasked with training young people with a passion for agriculture.

The college has for the 2019 academic year registered 79 first-year students, an improvement on previous years’ registrations. The READ Department has for the year 2018/19 budgeted R46 million to support both the Taung and Potchefstroom Agricultural Colleges.

Meanwhile 22-year-old graduate, Keabetswe Jiyane, said her love for land and farming started early in high school.

“… We have life because of agriculture. I wanted to discover the mystery behind the significance of soil and what it can produce. I pursued my studies because through knowledge, one discovers that the potential in this industry cannot be compared with any other,” said Jiyane. – SAnews.gov.za

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SA to develop Africa’s largest tech hub

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Friday, February 22, 2019

Government is looking at developing the biggest tech hub in Africa, a
coding and programming academy as well as co-working and co-creation spaces for
the youth and start-ups in particular.

“Through the Small Enterprise Development Agency (seda), my department,
in partnership with the Department of Telecommunication and Postal Services,
has started a conversation to develop the biggest Tech Hub in Africa…” Minister
of Small Business Development Lindiwe Zulu said on Friday.

She was addressing an engagement session with the creative industry in
Johannesburg under theme ‘Leveraging on digital platforms for 4IR creatives’.

The session was led by Communications Minister Stella Ndabeni-Abrahams
and Deputy Minister Pinky Kekana.

The one-day engagement focused on broadcasting, audio-visual and new
platforms, as well as the 4th Industrial Revolution (4IR).

Zulu said the technological revolution must improve and advance the
lives of South Africans.

“It also becomes important that Small, Medium and Micro Enterprises
(SMMEs) and Cooperatives embrace this radical reshaping of the relationship
between technology capabilities and business opportunities.

“Incubators must focus on creating a new generation of South African
Start-ups that will drive the creation of disruptive technologies in the
creatives industry,” she said.

The Minister said South Africa is well placed to benefit from the
potential of the information and communications technology (ICT) sector in the
future.

The Minister said the size of South Africa’s gross domestic product
(GDP), its levels of per capita income and productivity gave it an advantage to
lead in the ICT sector on the continent.

In addition, the increasing contributions from South African firms to
producing for the continent and world value chain of manufactured goods, as
well as the above-average level of innovation infrastructure in which business,
government and research interact, are putting South Africa in a favourable
position to lead this space in Africa.

“If South Africa wants to build on its existing strengths, it must not
wait longer with making meaningful, and sometime bold, changes. It must
overcome its current complacency, political complexity, and inertia to act.

“South African initiatives are likely to be successful only if they
happen in an integrated manner and, importantly, create more scale and scope
for growth across Africa and create the conditions that allow a greater role
for consumers and businesses to drive the impact of new technologies through
their effective use,” the Minister said.

Presidential Commission on the Fourth Industrial Revolution

 In his State of the Nation Address, President Cyril Ramaphosa
announced the appointment of a Presidential Commission on the Fourth Industrial
Revolution.

The commission will serve as a national overarching advisory mechanism
on digital transformation.

It will identify and recommend policies, strategies and plans that will
position South Africa as a global competitive player within the digital
revolution space.

Ndabeni-Abrahams has urged the creative sector to work with government
in developing policies for 4IR.

“Please walk this path with us as we develop policies for 4IR so that we
are able to move from an informed point of view. Through the Fourth Industrial
Revolution Commission, we are establishing work streams.

“Once the induction has been done by the President, we will be able to
invite more participants to look at the matter holistically,” the Minister
said.

Future of work

Dr Brian Armstrong, a pre-eminent thought leader on digitalisation and
business strategy and Professor of Digital Business at the Wits Business
School, emphasised the importance for South Africa remaining competitive in the
global economy as it moves to the Fourth Industrial Revolution.

“We need to understand the impact on the future of work and what it
means for employment, new modes of employment and new ways of engaging between
employers and employees.

“It is critical that we focus on the opportunities… and understand the
critical success factors,” Armstrong said.

He said the future work for creative roles are less vulnerable to
technological disruptions and automation.

“Computers struggle to do three things at the moment and will continue
to do that. These include roles that are iron created intensity, creative
intelligence, roles that are high relations intelligence and roles that are
high in construction dexterity.

“The more technological the world becomes, the more important it is to
focus on our humanity to differentiate ourselves from the machines and retain
value,” Armstrong said. – SAnews.gov.za

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