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Africa House and Spoke Consulting on Wednesday unveiled a new information document outlining the financial instruments available to South African exporters to unlock their competitive edge in Africa.
The new ‘Finance Compendium: Guideline of Funding and Investment Support for South African Registered Exporters of Goods and Services’ unpacks the numerous government-led and private-sector financial products and services available to exporters.
Many South African companies are unaware or have insufficient knowledge of the finance, incentive and support instruments available to South Africa-based exporters.
“We are losing deals in Africa, and not [necessarily] because of price, quality and delivery,” Africa House projects and development FD Paul Runge told attendees at the launch, held at WorleyParsons’ Johannesburg offices.
The live and growing electronic compendium contained basic information and contact details relevant to manufacturers, traders, contractors, consultants and service providers.
Spoke Consulting director and Manufacturing Circle executive director Philippa Rodseth explained that the more information a company had, the better equipped it would be to make key decisions and position itself competitively and relevantly in Africa.
Unpacking the context of the baseline report, she provided an overview of the structure of the report, which included advisory, funding and insurance service options, and the “big picture” of the categories of sources of export assistance and funding-types.
The document lists the support options of specialist organisations, relevant government departments and agencies, major export councils, chambers of commerce, development finance institutions and service providers.
These include the Department of Trade and Industry (DTI), the Industrial Development Corporation, the Development Bank of Southern Africa; Nedbank Corporate and Investment Banking, the Export Credit Insurance Corporation, Sanlam and Santam, the Johannesburg and Ekurhuleni North Chambers of Commerce and Industry; the Built Environment Professions Export Council, the Credit Guarantee Insurance Corporation and the Southern Africa Stainless Steel Development Association, besides others.
DTI strategic partnerships and customer care chief director Tsepiso Makgothi said the DTI was working to mitigate the current industry challenges of low growth, high unemployment and social issues, and to stimulate local output through the offering of various incentives.
The DTI offers, besides others, the 12I tax allowance, the Automotive Investment Scheme, the Aquaculture Development and Enhancement Programme, the Export Marketing Investment Assistance, the Sector Specific Assistance Scheme, the Capital Projects Feasibility Programme, the Manufacturing Competitiveness Enhancement Programme, the Black Industrialist Scheme and the Critical Infrastructure Programme.
She called on exporters to engage the DTI to seek out the best fit and fully understand what would be expected of them.