A panoramic view of Johannesburg’s city center featuring high-rise buildings, ongoing construction, and vibrant city life.
South Africa is aiming to secure roughly $46 billion in investment for its Special Economic Zones (SEZs) during the current fiscal year as part of an effort to reverse decades of industrial decline. According to a Trade department official, the government plans to secure funding from infrastructure investors, development finance institutions, commercial lenders, and commitments made at this year’s investment conference, where a record $54 billion was pledged. Manufacturing’s contribution to South Africa’s economy has fallen from 24% in 1994 to 11% today, largely due to persistent power shortages, inefficient ports, and other infrastructure challenges. Officials believe SEZs, which offer incentives such as a reduced 15% corporate tax rate, can help reverse deindustrialization, attract new industries, and create jobs for South Africans.
Bloomberg