EASE OF DOING BUSINESS IN SOUTH AFRICA
For investing, South Africa offers ease of doing business. Industries are served by an established infrastructure and economic base with great potential for further growth and development through investing. South Africa has the most sophisticated free-market economy on the African continent, with the following advantages:
Banking is highly developed and is closely regulated to protect the interests of those investing. South Africa has a modern financial and banking system. Foreign banks are well represented. Key areas of business of foreign banks include trade finance, letters of credit, foreign exchange activities and services to offshore investors. All of these facilities are available to investors in the Coega IDZ.
Investors taking advantage of business opportunities in South Africa are well protected by the country’s legal system. South African Constitution protects property, intellectual and other rights.
The Department of Trade and Industry has developed a package of over 90 incentives, loans and rebates to enhance South African investment opportunities. For example, the Foreign Investment Grant is a cash incentive scheme for foreign investors who invest in new manufacturing businesses in South Africa. It covers up to 15% of the costs of moving new machinery and equipment (excluding vehicles) and to a maximum amount of US$428 600 per entity.
South Africa’s high-tech communications infrastructure includes a high speed ICT backbone at Coega, with fibre optics linking all sites, creating internet business opportunities in South Africa.
To take advantage of South African investment opportunities at Coega, please contact Coega on:
South Africa – Tel: 08610 COEGA / 0861026342
International – Tel: +27 41 408 4800 / +27 41 403 0400
Fax: +27 41 408 4998 / +27 41 403 0401
BUSINESS OPPORTUNITIES IN SOUTH AFRICA
Investors find South Africa a positive business investment opportunity:
- The US is one of South Africa ’s key trading partners for both South African export promotion and inward investment mobilisation. Several trade agreements make business opportunities in South Africa very attractive for US companies. The American Chamber of Commerce in South Africa (AmCham) has signalled its support for the future development of Africa by signing the New Partnership for Africa ’s Development (Nepad) business group’s four business covenants on best practices and governance.
- 95% of German businesses operating locally consider South Africa ’s economic climate to be positive.While German companies regard the productivity of the local workforce highly, other positive factors include return on investment, the availability of cheap and reliable electric power and free competition.