Rupert wants 'tax-neutral' zone

Cape Town - "Let's create a tax-neutral financial and IT zone in the Western Cape."

This was the appeal from Johann Rupert, chairman of Remgro, at Thursday's launch of Silicon Cape.

"I have already discussed the possibility with prominent members of the ANC and I am happy that Helen Zille, the Premier of the Western Cape, is also present today," Rupert declared.

Both Zille and he have warned that the supremacy of justice and security in the country has to be observed to ensure that local intellectual property fosters economic growth.

According to Rupert, Africa's falling behind the rest of the world has nothing to do with race, but rather with the socialist and semi-socialist choices being made. In contrast, countries that are flourishing protect private property and welcome entrepreneurship, and are those where democracy, freedom of speech and transparency in government obtain.

Mamphela Ramphele, chairperson of the Technology Innovation Agency (TIA), regards Silicon Cape as the start of large-scale innovation. She wants to use the TIA to create a favourable climate for the IT industry by, among other things, getting rid of regulatory obstacles such as exchange control.

Silicon Cape is being driven by South African IT entrepreneurs Vinny Lingham of Yola.com and Justin Stanford of 4Di Capital.

The aim is to create a collective brand name for the IT industry in the city and the country in order to fully exploit opportunities.

"Venture capital looks for a return on its investment and we must ensure that the IT industry instils commercial confidence."

"If we don't create the proper environment, South Africa will remain a net exporter of IT talent," Stanford reckons.

The launch attracted so much local and foreign interest that "Silicon Cape" at one point was the second-biggest buzzword on global social networking service Twitter.

- Sake24.com

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