Business Opportunities for Indians in South Africa

Doing Business with South Africa - SICCI Session, Chennai.

Today I went to an interactive session on “Doing Business with South Africa” organized by SICCI – The Southern India Chamber of Commerce & Industry and South African High Commission @ Taj Coromandel, Chennai. Here are some important pointers I gathered from that event, for people interested in engaging with South Africa economically –

  • No. of Indians in South Africa: 1.5 Million, 3% of the population.
  • South Africa accounts for 25% of the GDP of the entire African continent. Besides, the dignitaries claimed that SA is a good base for people wishing to do business with other African countries.
  • They mentioned that companies investing in South Africa can take back 100% of the profits generated. There maybe some T&Cs, do check…
  • Indian companies investing in SEZs in SA have lower corporate tax (15%) and are allowed duty-free imports of components used in production/assembly over there. Govt. also contributes a share of local training expenses.
  • People who wish to know which sectors would attract upcoming investments could refer to Industrial Policy Action Plan and National Development Plan released by Govt. of SA.
  • Tax incentives (12 i) are available for manufacturing investments; Incentives are also available for film/TV productions and a no. of other sectors.
  • South Africa, it seems, has a lot of ore deposits like platinum, iron, etc. They have 80% of the manganese ores of the world. They are looking for companies/ partners who could help them “beneficate” (probably they mean process or convert into a product) these ores in South Africa itself.
  • Opportunities are available to supply pharmaceuticals, especially generic medicines, and other medical equipment/devices.
  • Most MNCs in South Africa (including major car industries) are 100% owned by the parent companies in the respective countries. The No. 1 automobile component they export is Catalytic Converter.
  • SA has already invested more than $10 billion USD for renewable energy. Scope for RE industry in South Africa is good, going forward.
  • Govt. plans to spend close to $2 billion USD over the next few years for developing sea ports. Opportunites for foreign investments abound in this sector also.

Have a look at South Africa at a Glance to know about the country.

Destination Infinity

One thought on “Business Opportunities for Indians in South Africa

  1. Kumar

    Myself Avinash Kumar from India, currently I’m working as Biomedical engineer with 8 years of work experience in hospitals and clinics in Kerala,India.
    I’ve a good network of doctors, surgeons and dentists with whom I do business regularly.
    By June 2020 ,I wish to relocate from India and start a new business in any foreign country that provides citizenship for my wife and my parents,also most importantly give good returns for my investment.
    I would be extremely grateful if you could guide me through the process and suggest what all countries in Africa would be the safest and best place to invest and start a new life.
    Your advice would be highly appreciated.

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