Share

SA promotes Operation Phakisa in UK

Cape Town – South Africa is on a promotions drive to generate interest in its oceans economy among European investors.

“We need potential partners on a win-win basis to support South Africa’s oceans economy strategy. We extend an open invitation to investors to visit South Africa to further explore vast investment opportunities,” Deputy Transport Minister Sindisiwe Chikunga said in her speech at the event.

READ: Africa project to tap ocean potential, SA's Phakisa takes off

The London investment seminar forms part of Operation Phakisa, which is an initiative focused on driving the economic potential of the country’s oceans.

Research has shown that SA’s oceans economy had the potential to contribute up to R189bn to South Africa’s gross domestic product (GDP) by 2033 and create about a million jobs.

Chikunga welcomed European investors with maritime related interests including ship builders, maritime transporters, and import and export businesses.

Presentations were delivered by a high powered delegation including high commissioner Obed Mlaba, South African Oil and Gas Alliances’ Ebrahim Tokalia, head of operation Phakisa in the Presidency Ismail Akhalwaya and Transnet’s Richard Vallihu.

At the Operation Phakisa open day in 2014 President Jacob Zuma said the initiative "brought together teams from Government, labour, business, academia and other sectors to work together in experimental laboratories, to explore all possibilities and further unlock the potential of our country's vast coastline".

READ: Zuma: Oceans could add one million jobs

He said these teams had highlighted a number of opportunities that the country could take advantage of because of its location.

These ranged from shipbuilding to aquaculture, and oil and natural gas exploration. He said it was a concern that South Africa did not have any merchant vessels flying the South African flags.

"This is in spite of the fact that each year, 300 million tonnes of cargo moves through our ports in imports and exports."

He said the country was well positioned to become a service centre for offshore oil and gas production and exploration.

"Of the 80 oil rigs estimated to be in the range of the Western Cape, only four rigs are serviced per year, showing significant potential for growth," he said.

He said the country was also in the process of establishing a national shipping company in partnership with South Korea.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.92
+0.1%
Rand - Pound
23.88
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.32
+0.2%
Rand - Yen
0.13
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders