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Thu Jun 30 21:26:40 CAT 2016

Businesses debate SA's way forward

Penwell Dlamini | 02 March, 2016 00:53
Peter Draper, managing director of Tutwa Consulting Group, said: " We have become more of a gatekeeper than a gateway. File photo
Image by: AFP PHOTO

South Africa is losing its status as the gateway to the rest of the continent as it struggles to attract investors.

The Gauteng Growth and Development Agency held a debate in Sandton yesterday on how to revive the economy.

Peter Draper, managing director of Tutwa Consulting Group, said: " We have become more of a gatekeeper than a gateway. Other gateways are emerging. Kenya into East Africa, Mozambique into Southern Africa and even Angola in the future to access the copper fields. If you want a financial or air gateway, Dubai is more of a gateway for Africa than Johannesburg ."

Draper identified the Expropriation Bill, the Promotion and Protection of Investment Bill and the Private Security Bill as proposed legislation inhibiting economic growth.

Gaba Tabane, the director of consulting at Deloitte, said: "[The] government must invest time in talking to young entrepreneurs about the government-to-government relationships they have, so that small businesses can make contact with their counterparts elsewhere.

"These relationships are meant to reduce export duties. This is what the Chinese do best," he said.

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