Investment opportunities identified
The Department of Trade and Industry has published an illustrated guide to investing in South Africa’s oceans economy.
Sectors identified in the guide include logistics, oil and gas, and boat-building.
It includes contacts and background information on the economy and education programmes for potential investors.
According to the brochure Operation Phakisa - Oceans Economy is ensuring that the country offers globally competitive investment opportunities.
It points out that Operation Phakisa is a priority programme through which the South African Government aims to grow the Ocean Economy’s contribution to the country’s GDP to R129-177 billion by 2033; some 250% to 350% of its present value.
This is expected to provide up to a million new jobs.
With its proximity to offshore drilling and exploration sites around Africa, and its first-world technology, skills and infrastructure, South Africa is described in the guide as “a compelling choice for ship and rig maintenance and repair for the oil and gas industry, as well as for the world’s shipping operators.
South Africa also produces world-class boats and ships of up to 140 metres for civilian and military use.
The ship and boatbuilding sector is backed by a “rich supply chain of manufacturers, technicians, fabricators, installers and system integrators,” according to the guide.
South African companies and financial institutions are also well positioned to help with infrastructure development in Africa and beyond.
According to the guide the country’s civil engineering and Engineering and Construction Project Management (EPCM) sector “has extensive expertise in harbour and infrastructure construction, with successful project delivery across the African continent and beyond.
“South African port operators, including state-owned corporation Transnet, can provide expert project and operations management for African ports and infrastructure”.
It adds: “South Africa has significant developmental financial institutions that participate in national and African projects, supported by a world-class private financial services sector with excellent governance and liquidity.
“All of this is underpinned by a maritime education system that delivers trade skills, merchant marine crew, and advanced engineering and logistics education for students from around Africa,” says the guide. For a copy click here.