Africa|Engineering|Manufacturing|SECURITY|Seifsa|Steel|supply-chain|Manufacturing |Infrastructure
Africa|Engineering|Manufacturing|SECURITY|Seifsa|Steel|supply-chain|Manufacturing |Infrastructure
africa|engineering|manufacturing|security|seifsa|steel|supply chain|manufacturing-industry-term|infrastructure

SEIFSA welcome cabinet reshuffle and looks forward to working with the new Minister of Finance

6th August 2021


Font size: - +

This article has been supplied as a media statement and is not written by Creamer Media. It may be available only for a limited time on this website.

The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) welcomes the cabinet reshuffle and is looking for forward to working with new Minister of Finance, Mr Enoch Godongwana. 

The departure of outgoing finance minister Tito Mboweni is disappointing, considering the level of experience, expertise and political background. However, SEIFSA acknowledges that it was his own personal wish to vacate the office after bringing stability to the Treasury Department during these challenging times. SEIFSA applauds his efforts and contribution to strengthening South Africa’s fiscal position. 

SEIFSA also welcomes President Cyril Ramaphosa’s the decision to pull the security cluster into his control, especially following last month’s violent unrest that led to the disruption of businesses and manufacturing activity. The Absa Purchasing Managers’ Index came in at 43.5, clearly demonstrating the massive level of disruption in the supply chain caused by the inability to deliver much-needed raw materials to industries and other customers of final manufactured goods. 

Commenting on Mr Godongwana’s appointment, SEIFSA Chief Economist Chifipa Mhango said his background in Government administration and his role as part of the African National Congress’s Economic Transformation Committee, coupled with his education background in economics, makes him a suitable candidate for the finance portfolio. “We are confident that he will continue following the prudent direction set by Mr Mboweni,” he said. 

“SEIFSA looks forward to the continued drive towards infrastructure investment in the economy, as when measured in terms of fixed investment levels to GDP, it is still below par when compared to other emerging economies. We hope under Mr Godongwana, there will be real efforts made to ramp up investment,” he said, adding that there also needs to be more focus on the implementation of policies that will support the manufacturing sector and drive job creation, considering the massive unemployment rate in South Africa. 

“We wish President Ramaphosa well with his new Cabinet and look forward to continuing our robust engagements with the relevant departments as we work towards a common vision to rebuild our economy.” 

Edited by Creamer Media Reporter


Latest News

Kenhardt solar farm, in Northern Cape
Scatec inaugurates 540 MW Kenhardt solar farm
18th April 2024 By: Marleny Arnoldi


Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...


Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...


Latest Multimedia

sponsored by

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
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?







sq:2.94 3.082s - 164pq - 2rq
Subscribe Now