Show SA is open for business by cutting the red tape

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 53 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 63%

Nigeria News News

SA is in desperate need of a model suited to quick innovation, writes Hennie Ferreira

Hennie FerreiraIn his opening address at the second annual SA investment conference in Sandton, President Cyril Ramaphosa announced that SA is open for business and he wanted to bring in billions in investment commitments. He called on fellow African leaders to keep the investment momentum rolling during the Africa Investment Forum, which ended on Wednesday.

What strikes me as the most important takeaway after the investment conferences is exactly this: the need to develop partnerships between business, the government and communities. Entrepreneurs are at the coalface of job creation in SA — they can offer valuable advice to the government and they can support and grow the government’s actions in communities.

When things change as fast and fundamentally as they do in the modern business world, entrepreneurs are often left playing catch-up, tied down by red tape and an inflexible regulatory environment. In the drive to promote digital transformation in Africa, our regulatory environment must keep up. Too much regulation and red tape will cause businesses to stagnate, taking economic growth and job creation with it. We are in desperate need of a model suited to quick innovation. While we have come a long way in deregulation, there is still some way to go to remove bureaucratic and administrative hurdles. Flexibility and dynamism are key words in the future of our regulatory framework.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: OP-ED: RIP SA Express and MTBPS?Finance Minister Tito Mboweni declared himself ‘no Father Christmas’ during the MTBPS briefing. He has opened a discussion about the viability of the MTBPS and it looks increasingly likely that his wish to offload some of the state’s airline assets will materialise. Times are tough, the ‘family is in trouble’ so a rebalancing of the government’s portfolio is in the offing. Now, this is no longer a question of ‘if’, but ‘when’.
Source: dailymaverick - 🏆 3. / 84 Read more »