Collaboration vital to SA's competitive edge

Wednesday, July 31, 2019

Tourism Minister Mmamoloko Kubayi-Ngubane has invited all sectors of business to join hands with government in efforts to stem unemployment, poverty and inequality.

Addressing the SMME Sustainability Summit in Gauteng on Wednesday, the Minister said the collective push to get the country on a growth trajectory meant both business and government had to reconfigure their structures under a difficult environment that has largely been impeded by stunted socio-economic transformation.

Kubayi-Ngubane said if South Africa is to remain globally competitive and relevant, all sectors had to pull in one direction.

“We live in a world in which a commodity produced in a far-away country has the potential to destroy a business in South Africa and in turn kill our jobs.

"The efficiency of the productive activity in such a world is not measured in comparison to others within the confines of one country,” the Minister said.

She said 25 years after democracy, South Africa has achieved little by way of economic transformation, and that the untransformed economy is one of the biggest barriers to entry for SMMEs.  

“The distribution of income remains skewed in favour of a few, which means that our modest economic benefits are still accruing to a small section of the population. This poses a serious threat not only for our economic stability but to the stability of the democratic State.”

The two-day summit is aimed at promoting the growth and development of Small, Medium and Microsized Enterprises (SMMEs) and to help them contribute to economic growth and job creation.

With a specific focus on tourism and uncovering business opportunities in this growing sector, the gathering attracts entrepreneurs from across the country, development finances institutions, business pioneers, industry experts and mentors.

It further affords an opportunity to public and private organisations as well as SMMEs to exhibit and showcase their products and services.

SMMEs constitute a sizeable number of all businesses and the sector can play an even greater role in propelling our country’s economy into a greater growth trajectory. – SAnews.gov.za

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