During his Budget Vote address on June 23, Trade, Industry and Competition Minister Parks Tau noted that the Department of Trade, Industry and Competition (dtic) and its entities attracted R647-billion in investment in the 2025/26 financial year against a target of R450-billion – exceeding the target by 44%.

At the sixth South Africa Investment Conference in March, Tau noted, R415-billion in new investment projects were recorded.

“Our ambitious R3-trillion investment mobilisation drive to 2030 is on track,” he said.

During his address, Tau highlighted the adoption of the Industrial Development Strategy as charting the direction of the country’s growth path, expressing that South Africa is re-industrialising through diversification, decarbonisation and digitalisation.

In diversifying trade, the Minister said the department was increasing the capacity of South Africa’s exporters by providing integrated export awareness, training, coaching and mentorship, incubation and acceleration interventions.

He said the dtic was activating increased exports of value-added products such as industrial machinery, chemicals, automotive components, pharmaceuticals, electrotechnical components and goods, as well as aerospace and defence equipment.

“These expanded baskets of products are being advanced in Africa as the basis of our global engagement, with existing markets such as the UK and Europe being pursued as part of renewed strategic engagements, while also being introduced to growing and emerging markets such as China through the China-Africa Economic Partnership Agreement initiative, as well as Turkïye, Brazil, Egypt and Southeast Asia among others.”

Tau noted that export promotion initiatives would be further advanced by appointing foreign economic representatives and placing them in strategic and priority foreign offices to secure increased exports and investment.

He added that the department would also develop a nationally anchored non-tariff barrier platform and deliver increased trade finance and investment instruments, including through implementing the Afreximbank Country Programme following South Africa’s accession to the bank in April.

The Minister also highlighted the country’s 12 designated special economic zones (SEZs) – nine of which were operational, hosting 224 investors across R31.7-billion in cumulative investments and supporting more than 28 000 jobs.

He noted that the Nyanza Light Metals project at the Richards Bay Industrial Development Zone, in KwaZulu Natal, had started, symbolised by the R15-billion in industrial infrastructure that is now in the implementation phase.

This project is financed primarily by African and South African development financing institutions.

“We should pride ourselves that South Africa's titanium mineral resources will be converted into high-value titanium dioxide pigment and in the process generating more than 2 400 construction jobs and 850 skilled operational positions, with 30% of employment reserved for women and youth”.

Additionally, Tau noted that the expansion of the Dube TradePort SEZ unlocked over R2-billion across automotive components, clothing and textiles, pharmaceuticals and renewable energy.

“This province's industrial portfolio is broadening in multiple directions simultaneously,” he said.

In Mpumalanga, Tau noted, the Nkomazi SEZ, DP World's inland port, integrated with the Port of Maputo through the Maputo Development Corridor, routing South African industrial output directly onto the continent.

The National Empowerment Fund-supported Mpumalanga International Fresh Produce Market – valued at about R2-billion – integrates 150 000 small-scale and emerging farmers into formal agricultural value chains, supporting over 115 000 farm-level jobs and more than 1 600 small, medium-sized and microenterprises.

“This is demonstrative of South Africa’s commitment to working with our neighbours to achieve mutual prosperity for our people”.

Moreover, Tau pointed out South Africa held about 80% of the world’s manganese resources, ranked among the top six iron-ore producers globally, had the leading platinum group metal resource and abundant reserves of rare earths, vanadium and chrome.

The Minister pointed out that the Northern Cape hosted most of these resources and benefited from established infrastructure, access to global markets and an industrial park.

In partnership with Business Unity South Africa and the Northern Cape province, Tau said the department was positioning the province to anchor a new generation of industrial clusters that combined critical minerals beneficiation, renewables-linked manufacturing, transmission infrastructure expansion and green hydrogen production.

“Realising this potential, however, requires a deliberate build-out of the enabling infrastructure – namely expanded grid capacity, transmission corridors, logistics and port connections, water systems, and fibre – sequenced to match the needs of priority projects and anchor investors,” he said.