Global risks, opportunities and a new dawn for South Africa – Gordhan
The global situation posed a number of risks, Public Enterprises Minister Pravin Gordhan cautioned on Monday. He was addressing the India-South Africa Business Summit.
These risks include a new global financial crisis and damage to the multilateral trade regime, as well as the readiness (or lack of it) of countries for the Fourth Industrial Revolution, including artificial intelligence. The countries of the Brics (Brazil, Russia, India, China and South Africa) alignment could, he observed, mitigate against these.
Also, new ways to grow economies, achieve sustainable development and reduce inequality could emerge. "Clearly, yesterday's skills are not good enough for tomorrow," he highlighted. Training the younger generations will be the biggest challenge for both India and South Africa.
"Today, South Africa and India share many common factors," he pointed out. They were both members of Brics, the G20 group of leading economies, and the World Trade Organisation. But today both needed to "raise the bar" regarding inclusive development and reducing inequality.
"In South Africa, ... we do indeed have a new dawn," he affirmed. "That new dawn has created an immense new spirit in the country." It had increased trust between Government, business and citizens. And that trust would be increased if the people experienced the benefits of development, such as the provision of water, power and the creation of jobs.
Turning to his own portfolio, Gordhan referred to South African State-owned Enterprises (SOEs).
"SOEs need to move in a very different direction from the era of what we call State Capture in South Africa." He noted that India also had major SOEs. "There is a lot of room for us to learn from one another [concerning good governance and the turning around of SOEs]."
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
