South Africa Invites Investors

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The South African Chamber of Commerce in America, SACCA, recently had a presentation on "Foreign Companies Doing Business in South Africa." Held at the elegant Harmonie Club of Manhattan, the event turned out to be robust in content and attendance. Integral to the successful turnout were the executives at SACCA, Gordon Herr, CEO, and Leyland Hazelwood, Vice President, along with their colleagues.

An engaging presentation was delivered by the very insightful and accomplished international financier and business man, Frank Savage. Besides serving as an advisor to President Thabo Mbeki of South Africa, he is involved in banking, aviation, telecommunication, and non-profit work. Given his industrious personality and 35-year career in international banking, corporate finance, and global investment management, his perspectives are authoritative in terms of doing business in Africa and other parts of the world.

Economic uncertainties in several countries, including the US as a result of the war campaigns overseas, makes South Africa an attractive investment option. Amongst the various stock exchanges in Africa, the Johannesburg Stock Exchange is the largest and most developed. In pursuit of high returns on investment, portfolio managers and various sized businesses have many areas to consider, besides the mineral rich sectors South Africa is renowned for.

The South African Consul General, Fikile Magubane, also attended. During the question and answer session, she buttressed Savage's emphasis on the humanitarian problems the nation is facing. Besides the AIDS crisis and disproportionate distribution of wealth, drastic reforms are called for in the area of healthcare, labor relations, and access to capital for the majority.  The South African masses are still struggling against the disenfranchisement from yesteryears. Despite these problem areas, Savage pointed out that a remarkable level of stability has maintained in the post-Apartheid society.  Drawing from his experience, he pointed out that this stability is crucial for foreign investment. In the area of conflict resolution, he noted an interesting trend in the society; rather than take up arms, South Africans have increased dialogue to the point that this trend is established across the board.

Against the backdrop of top notch security, foreign companies looking to South Africa for gains on their investment have solid infrastructure and social amenities to count on. For individuals planning their next vacation, the country also has a variety of tourist attractions supported by world class hoteliers and client relations.

For more information visit www.sacca.biz to learn more about "Foreign Companies Doing Business in South Africa." Correspondence can be directed to gordon@sacca.biz Tel: 212-564-8900, Fax: 212-480-2991. Video transcripts of the presentation are available on request.

Speaking Truth To Empower.� To contact The Black Star News write editor@blackstarnews.com or call (212) 481-7745. Subscribe to this newspaper and advertise to build power.

 

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