Metals and Engineering sector seals 2017-2020 settlement agreement
Johannesburg, 23 August 2017 – The metals and engineering sector today signed the 2017-2020 metals and engineering sector settlement agreement at the Metals and Engineering Industries Bargaining Council (MEIBC) offices in Johannesburg.
In terms of the agreement between the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) and the, National Union of Metalworkers of South Africa (NUMSA), Solidarity, the United Association of South Africa, the Metal and Electrical Workers Union of South Africa and the South African Equity Workers Association, wages in the sector will increase by 7% in the current year, 6,75% in the second year and 6,5% in the third year.
Speaking at the signing ceremony, SEIFSA CEO Kaizer Nyatsumba said the conclusion of the agreement was a culmination of four months of intensive talks, first within the MEIBC wherein SEIFSA worked closely with all the other employer parties, and subsequently in its direct engagements with the respective trade unions in the sector.
Mr Nyatsumba said the wage deal would bring much-needed stability in the sector which has been bleeding jobs over the past few years. He said SEIFSA and the respective labour partners were aware of the enormous damage wreaked on the sector by cheap, often subsidised imports from China and other Asian countries.
“The process was long and hard, and there were considerable challenges along the way, but we are hugely relieved that finally we and our labour partners were able to reach an historic agreement on realistic wage adjustments for the next three years.
“Neither we nor the unions are entirely happy with the agreement reached, but we can live with it. We believe that it is the best possible agreement that we could reach under the circumstances, and we believe that it is fair to both parties,” Mr Nyatsumba said.
He said the conclusion of the agreement was historic because, for the first time in a decade, the parties reached a settlement agreement without resorting to industrial action.
“We came into these negotiations with vastly different starting positions, as is usually the case during such negotiations. However, to the credit of the respective parties, we moved gradually over time to the realistic figures at which we eventually settled,” he said.
Mr Nyatsumba also responded to the persistent statements by the National Employers Association of South Africa that SEIFSA represents 30% of employers in the sector and that it represents only big companies. He said there were 23 independent employer Associations that were members of SEIFSA. The Associations collectively represented approximately 170 000 people. He said SEIFSA’s various Associations included both small, medium and large companies, with 66% of them being small companies employing fewer than 50 people.
“Unlike our detractors, SEIFSA and its members believe that labour is an important, indispensable partner, and not an enemy. We believe that it is fundamentally important for employers and labour to forge a strong relationship based on mutual respect to be able to engage meaningfully on what needs to be done to improve the welfare of the sector. We believe that the two stakeholder groups need to strive for win-win solutions at all times, because there is no business without labour, and there are no employees without employers,” Mr Nyatsumba said.
“I would like to thank our labour partners for the constructive manner in which we have engaged during these negotiations. We believe that it is vitally important that we continue to work together to resolve all outstanding matters and, more importantly, to ensure the continued survival of the embattled MEIBC,” he concluded.
Ends
Issued by:
Siseko Njobeni
Communications Manager
Tel: (011) 298 9411 and 082 602 1725
Email: siseko@seifsa.co.za
Web: www.seifsa.co.za
PPI is likely to aid CPI easing further, says SEIFSA
Johannesburg, 23 August 2017 – The declining Producer Price Index (PPI) increases chances of further inflation easing in the near future, Steel and Engineering Industries Federation of Southern Africa (SEIFSA) Chief Economist Michael Ade said today.
Dr Ade was commenting on today’s Consumer Price Index (CPI) which showed the continued easing of inflation, with the numbers dipping below 5 % for the first time in just under two years. Annual consumer price inflation was 4,6% in July 2017, down from 5,1% in June 2017. The consumer price index increased by 0,3% month on month in July 2017.
He said there was a direct correlation between changes in the PPI at the retail level (finished goods) and consumers at the point of sale.
“It is important to monitor both indicators regularly as the CPI primarily measures inflation while the PPI acts as a preview of changes in the rate of inflation,” Dr Ade said.
SEIFSA anticipates the release of the CPI because of its importance, alongside the PPI, to the metals and engineering (M&E) sub-component of manufacturing. The CPI, alongside the PPI, are key instruments in financial decisions, costs mitigation and contract price adjustments (CPA) by companies in the M&E sector. Accordingly, SEIFSA has developed an input cost index which replicates the average cost structure of the sector, comprising of the CPI and PPI (amongst other cost variables), which are significant components of overheads as used in SEIFSA’s CPA calculations.
“The release is most welcome as the rate stays within the Reserve Bank’s target range and in line with SEIFSA’s expectations. The CPI is the main gauge of prices of goods and services and the release is most welcome to the public as the lower rate will reduce pressure on both over-indebted consumers and companies’ operational costs,” he concluded.
ENDS
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Siseko Njobeni
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Tel: (011) 298 9411 and 082 602 1725
Email: siseko@seifsa.co.za
Web: www.seifsa.co.za
SADC NEEDS POLITICAL WILL TO STIMULATE REGIONAL TRADE
Johannesburg, 20 August 2017 – Southern African countries must align their priorities in order to set the region’s manufacturing sector on a sustainable growth path, Steel and Engineering Federated Industries of Southern Africa (SEIFSA) CEO Kaizer Nyatsumba said today.
Speaking at a time when the SADC Head of State summit is taking place in South Africa, Mr Nyatsumba said it was crucial that countries in the region facilitated easier trade with one another in order to ensure that the SADC region was much more commercially integrated and offered a bigger market for its products and services. With companies in SADC countries producing for the entire region and not only for their respective domestic markets, unit production costs are likely to be lower and capacity utilization higher, Mr Nyatsumba said.
He said that was likely to improve these companies’ international competitiveness.
“Ensuring that manufacturing in Southern Africa is internationally competitive” is one of the topics at the third Southern African Metals and Engineering Indaba to be held from 14-15 September 2017 at the IDC Conference Centre in Sandton.
Speakers in that session include Metals, Engineering and Related Industries Sector Education and Training Authority (merSETA) CEO Dr Raymond Patel, Manufacturing Circle CEO Ms Phillipa Rodseth, Africa House Director of Projects and Development Finance Paul Runge and Aurik Business Accelerator CEO Pavlo Phitidis.
Mr Nyatsumba said regional economies continued to battle against limited cross-border industrial linkages, over-reliance on primary products with limited scope for value adding and beneficiation, as well a low intra-regional trade.
“The Southern African Development Community (SADC) must come up with policies that are in line with the continent’s ambition to transform from natural resources to value-adding and industrialised economies. This calls for the development of coherent and implementable industrial policies by the respective regional economies,” Mr Nyatsumba said.
He added: “It is a matter of concern that, despite various efforts to stimulate trade among SADC countries, intra-regional trade is still relatively low. SADC countries must boost intra-regional trade in order to expand their respective Gross Domestic Products, while stimulating the competitiveness of their manufacturing industries.”
Lack of political will has often been blamed for the low levels of regional trade because political leaders have failed to address a number of critical factors hindering cross-border trade and economic integration, he said. The barriers included slow and costly custom procedures and high transport costs.
“An ambitious regional integration agenda must be driven at a political level because political will is key if we are to quicken the pace of the regional trade harmonisation in SADC and Africa as a whole. There must be a collective political willingness to move in the same direction. Unfortunately, notwithstanding various efforts, large-scale regional trade and economic integration remain elusive,” Mr Nyatsumba said.
Now in its third year, the annual Southern African Metals and Engineering Indaba will also feature sessions focusing on:
- Political Leadership in Southern Africa: Does it Advance or Hamper Economic Growth?
- The Continental Free Trade Area: A Reality Before The End of 2017?
- Winning Together: Can Government, Business and Labour Conclude a Social Compact in the interest of Labour Stability and Foreign Investment?
- The Automotive Production and Development Programme and the South African Metals and Engineering Sector
- The Future of Collective Bargaining
- Do Steel Import Tariffs Benefit or Hurt the South African Economy?
More information on the multi-stakeholder conference which brings together captains of industry, labour leaders and policy makers can be found on www.meindaba.co.za.
Regional political leadership’s impact on the economy to come under scrutiny at metals and engineering indaba
Johannesburg, 17 August 2017 – Political leadership in Southern African can either advance or hinder economic growth in the region, according to Steel and Engineering Industries Federation of Southern Africa (SEIFSA) CEO Kaizer Nyatsumba.
Mr Nyatsumba said well-led countries with clear, business-friendly policies, with leaders who forged a strong partnership among government, business and labour tended to perform much better economically and to be magnets for foreign direct investment.
He said that given the crucial role played by inspirational political leadership, the Southern African Metals and Engineering Indaba 2017 will critically review the degree to which political leadership in South Africa and the rest of the region advances or hinders growth. The conference will be held at the IDC Conference Centre in Sandton from 14-15 September.
“The role of political leadership in economic growth is an important topic because, in order to attract foreign direct investment and to ensure strong economic growth, governments in the region must be at the forefront of efforts to increase market sizes, boost intra-regional trade and enhance the competitiveness of industries. Our view is simple: countries in the region are not owed a favour by anyone. Instead, they are in direct competition with many others around the world for investment, tourism and many other opportunities,” Mr Nyatsumba said.
He said that, compared to other regions in the world, trade within Africa remained at relatively low levels, despite various commitments by political leaders to improve the situation. This did not bode well for sustainable economic growth in the continent.
Mr Nyatsumba pointed out that Africa was by far the biggest export destination for South Africa’s metals and engineering sector. Regional integration has been at the centre of the Southern African Development Community’s (SADC’s) economic development agenda, which is in line with the ambitions of the African Union (AU) which is now championing the Continental Free Trade Area. The AU counts regional integration among its flagship projects. In addition, the New Partnership for Africa’s Development encourages the harmonization of regional and national policies on infrastructure, market development and trade.
Mr Nyatsumba said the simplification of customs procedures and the development of regional infrastructure were some of the initiatives governments in the region could embark upon in order to accelerate intra-regional trade.
Speakers lined up to answer the question, at the conference, whether political leadership in the region advanced or hindered economic growth include Zimbabwean academic and commentator Dr Ibbo Mandaza, businesswoman Dr Mamphela Ramphela and ANC National Executive Committee member and Mapungubwe Institute for Strategic Reflection (MISTRA) CEO Mr Joel Netshitenzhe.
ENDS
Issued by:
Siseko Njobeni
Communications Manager
Tel: (011) 298 9411 and 082 602 1725
Email: siseko@seifsa.co.za
Web: www.seifsa.co.za
Government must do more to protect manufacturers from cheap imports
Johannesburg, 13 August 2017 - THE Government should consider additional measures to protect local metals and engineering manufacturers from cheaper and subsidized imports, according to Steel and Engineering Industries Federation of Southern Africa (SEIFSA) CEO Kaizer Nyatsumba.
The influx of cheaper imports has eroded the competitiveness of local businesses, bringing key sub-sectors within manufacturing on the brink of collapse.
“The Government must do more to support fragile sectors from the unfair competition posed by subsidized imports,” Mr Nyatsumba said.
He said the sector had not fully recovered from the 2008 global financial crisis. “Instead, circumstances in the sector have deteriorated, with a number of our members either downscaling their operations or closing down. We need an urgent intervention to protect the sector and create jobs,” he added.
Recent economic data paints a picture of subdued conditions in the sector. The seasonally adjusted ABSA Purchasing Managers Index (PMI) declined by 3.8 points to 42.9 in July, a level last seen in the second half of 2009. All the major sub-indices declined.
Manufacturing is considered the engine of growth and employment. It is one of the largest contributors to South Africa’s Gross Domestic Product (GDP). Nyatsumba said the South African economy needed a vibrant and competitive manufacturing sector. “That is because, other than supporting other key sectors of the economy, manufacturing has more potential to create jobs and should be on the cutting edge of research and development as well as innovation,” he added.
The global competitiveness of manufacturers is one of the topics in next month’s Southern African Metals and Engineering Indaba 2017, which will be held at the Industrial Development Corporation (IDC) Conference Centre from 14-15 September. The conference is in its third year.
This year’s conference has attracted key industry players, policy makers and trade union leaders. Highlights of this year’s conference will include addresses by Minister of Labour Mildred Oliphant, Minister of Small Businesses Development Lindiwe Zulu and Cosatu General Secretary Bheki Ntshalintshali. ANC National Executive Committee member and the former Chairperson of the African Union (AU), Dr Nkosazana Dlamini-Zuma, will deliver the closing address.
Other speakers will include Zimbabwean academic and political commentator Dr Ibbo Mandaza, businesswoman Dr Mamphela Ramphele, CEO of the of Mapungubwe Institute for Strategic Reflection Joel Netshitenzhe, CEO of the Manufacturing, Engineering and Related Services Sector Education and Training Authority Dr Raymond Patel, Massmart Chairman Kuseni Dlamini,Chief Commissioner of the International Trade and Administration Commission Siyabulela Tsengiwe and the CEO of the Manufacturing Circle, Phillipa Rodseth.
ENDS
Issued by:
Siseko Njobeni
Communications Manager
Tel: (011) 298 9411 and 082 602 1725
Email: siseko@seifsa.co.za
Web: www.seifsa.co.za
Export competitiveness in the metals and engineering sector is pivotal for economic growth and synchronised upswing in the world economy, argues Michael Ade.
Our review of the State of the Metals and Engineering sector in the first quarter of 2017 reaffirmed the low-growth scenario, which saw a second consecutive contraction in GDP technically catapulting the South African economy into a recession. However, the latest prediction by the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) captures an adjusted annual economic growth trajectory, highlighting a moderate turnaround in GDP growth this year of 0.8%, which is generally congruent with a global positive outlook.
The recovery – albeit slowly – of some economic fundamentals provides some comfort and basis to argue that the South African economy is gradually weathering the depression. Indications are that the trough in the current business cycle may have finally been reached and a rebound is eminent.
There is optimism that second-quarter GDP figures will provide a mild impetus for slightly robust growth from the second half of 2017 onwards. This is possible given the generally improving international economic environment, underpinned by moderate recovery of investment and exports.
Moreover, developments in key external markets – such as the SADC, the rest of the African continent, Europe, Asia (particularly China) and the USA – for locally-manufactured products are important in gradually improving demand conditions regionally and globally. These should be beneficial to local exporters over the medium to long term.
Also, it is expected that an improvement in the current socio-political environment (including a clearer government economic policy stance) and international commodity prices will translate into better business opportunities and improve the financial positions and performances of local companies. This is potentially good news for the manufacturing industry at large and the metals and engineering (M&E) sub-industries in particular.
SEIFSA’s first-quarter revised growth outlook for 2017 specifically simulates the M&E sub-sectors benefiting from these developments and expanding by 0.9% in the second quarter, thereby contributing to a revised predicted annual outlook of 1.2%. This figure was revised downward from 1.4% due to then weaker-than-anticipated first-quarter results and deterioration of the outlook in 60% of the sub-industries.
Although there is confidence for medium-to-long-term economic activities in the M&E sub-sectors, the short-term figures are cause for concern. SEIFSA is of the view that increasing pessimism about current business conditions and poor performance of key economic indicators does not presently bode well for production activity. Both the ABSA Purchasing Managers Index (PMI) and the Producer Price Index (PPI) reduced by 4.8% and 1% respectively from May 2017 to June 2017. This was accompanied by a reduction in the Unit Value Index for exported commodities from 2.2% in April to -2.8% in May 2017.
Additionally, an oscillating rand does not provide confidence to businesses. A weak rand translates to high cost of exchanging currencies, resulting in increasing import costs (including costs of inputs). Input costs are a fundamental component of manufacturing input cost inflation and a trade-off between rising input cost inflation and the reducing PPI (including the PPI of stage of processing) impacts negatively on the margins of companies. SEIFSA closely monitors these indicators as their performance at the moment is cause for concern to the M&E sub-sectors.
A consistently poor performance may dampen the outlook and present a basis for further revision of our estimates. Contemporaneous to the need for improved economic indicators towards economic growth is exports competitiveness in the M&E industry. SEIFSA strongly believes that export competitiveness will ensure that output growth is consistent and sustainable, generally translating to better employment opportunities as companies rally to boost productive capacity in anticipation of higher-than-expected demand for their products.
Indeed, an imperative need exists for all companies in the M&E sub-sectors to be both inward looking (that is, sell within SA, in addition to intra-company transactions to upstream local companies) and outward looking (that is, sell beyond our borders and reduce dependence on the local economy) in order to benefit from an expectant economically buoyant aura.
In our first-quarter review of the State of the Metals and Engineering sector, we noted that the M&E production capacity expanded by 0.5% in Q1 2017, against our forecast of 1.3%. Total exports decreased by 8.4% in real terms. Despite a stronger rand in Q1, imports also decreased by 7.9% (real), which is indicative of a weak domestic economic environment. The table of export-to-output ratios of the metals and engineering sub-industries shows that 87% of demand for plastics, 77.5% of demand for electrical machinery and 67% of demand for metal products is derived domestically.
An interesting observation is that those sub-industries with the most significant exposure to the domestic economy experienced the most severe contraction in output, while the opposite mostly held for the sub-industries with higher export-to-output ratios. In addition, the sub-industries contracted the most in Q1 2017, confirming a cyclical output pattern to that of the domestic economy.
A paradigm shift and new strategy is needed in doing business in the M&E sub-industries. Rather than conducting business as usual, a focus on improving export competitiveness is needed in order to enhance profits and act as a buffer during difficult times and sustained economic down-swings.
Indeed, export competitiveness is pivotal if M&E companies want to benefit from expected domestic green shoots (given the current expansionary monetary policy stance) and increasingly optimistic global outlook. It is necessary to ignite and sustain economic growth as South Africa seeks to benefit from the broadest synchronised upswing the world economy has experienced in the last decade.
Dr Michael Ade is the Chief Economist of the Steel and Engineering Industries Federation of Southern Africa (SEIFSA).
The Metals and Engineering sector is worried about job losses
JOHANNESBURG, 6 August 2017 – The Southern African Metals and Engineering Indaba 2017 is an opportunity for stakeholders to come up with workable solutions to stop the jobs bloodbath in the metals and engineering sector, according to Steel and Engineering Industries Federation of Southern Africa (SEIFSA) CEO Kaizer Nyatsumba.
The metals and engineering is among the sectors shedding jobs in thousands. In the period between July 2014 and 30 June 2017, 25 000 people lost jobs in the sector.
“The loss of jobs in this sector is a worrying trend and should be of great concern to all of us. The sector currently faces pressures from different fronts, including weak economic growth, low business and consumer confidence, increased competition from imports, low productivity and falling export figures,” Mr Nyatsumba said.
In the first quarter of 2017, metals and engineering exports declined by 8.3%, compared to the fourth quarter of 2016.
“The unfavourable market conditions have forced a number of companies, many of which are our members, either to scale down or to close completely. When this happens, the social and economic consequences are dire.
"Therefore, it becomes imperative for Government, industry, labour and other interested parties to seek common solutions to these problems,” he added.
Mr Nyatsumba said that, in addition to the job losses, South Africans should lament the opportunity cost of thousands of jobs not created because of low business confidence as a result of unfavourable political or economic circumstances.
These and other related matters will be discussed at the third Southern African Metals and Engineering Indaba, which will take place at the Industrial Development Corporation (IDC) Conference Centre in Sandton, from 14-15 September.
Highlights of this year’s conference will include addresses by Minister of Labour Mildred Oliphant, Minister of Small Businesses Development Lindiwe Zulu and Cosatu General Secretary Bheki Ntshalintshali. ANC National Executive Committee member and former Chairperson of the African Union (AU), Dr Nkosazana Dlamini-Zuma, will deliver the closing address.
Other speakers will include Zimbabwean academic and political commentator Dr Ibbo Mandaza, businesswoman Dr Mamphela Ramphele, CEO of the of Mapungubwe Institute for Strategic Reflection Joel Netshitenzhe, CEO of the Manufacturing, Engineering and Related Services Sector Education and Training Authority Dr Raymond Patel, Massmart Chairman Kuseni Dlamini, Chief Commissioner of the International Trade and Administration Commission Siyabulela Tsengiwe and the CEO of the Manufacturing Circle, Phillipa Rodseth.
Mr Nyatsumba said the 2017 Indaba would build on the resounding successes of the two previous conferences. Last year’s conference included speeches by former President Kgalema Motlanthe, former Business Unity South Africa CEO Khanyisile Kweyama and Department of Trade and Industry Deputy Director-General Garth Strachan.
“We hope that, as in previous years, delegates at this year’s conference will engage in vigorous debate on matters affecting the sector and the economy at large. The speakers are experts in their areas of focus. The sessions have been carefully structured to tackle the key challenges facing manufacturers,” Mr Nyatsumba said.
LATEST PMI DATA AND A WEAKER RAND WILL FURTHER REDUCE MARGINS OF METAL AND ENGINEERING COMPANIES
JOHANNESBURG, 2 August 2017 – Manufacturers continue to face serious headwinds despite last month’s decision by the South African Reserve Bank to cut the repo rate by 25 basis points, which was an expansionary monetary policy move to reduce costs and stimulate demand, Steel and Engineering Industries Federation of Southern Africa (SEIFSA) Chief Economist Michael Ade said today.
Dr Ade was commenting on the latest seasonally adjusted Absa Purchasing Managers' Index (PMI) which declined by 3.8 points to 42.9 in July 2017, with all five of the PMI sub-indices performing poorly. This is a second consecutive monthly decline from 46.7 in June, and also the weakest since the second half of 2009. The seasonally adjusted business activity sub-index performed the worst, declining to a low 39.3.
“The data point is largely driven by souring of sentiment, including low executive, business and consumer confidence. These feed into poor month-to-month changes in demand and factory activity. A further consequence of the generally low confidence is a depreciation of the rand against the dollar, despite a strong performance in July,” he said.
Dr Ade said the poor PMI data and the weakening of the rand against the dollar would increase input costs and add pressure on the bottom line of companies in the metals and engineering (M&E) sub-component.
“This does not augur well for business, especially given that the M&E sub-industry is at a crucial phase of wage negotiations. Businesses are in a very dynamic environment of increasing costs and diminishing returns, which heightens the level of uneasiness,” he said.
SEIFSA Economist Marique-Mari Kruger said the PMI reading, which came well below the 50 mark, signaled a contraction in the manufacturing sector. “This is disappointing when compared to the performance of our important trading partners in the Eurozone and the US, with the countries generally scoring PMI indices of above 50,” she said.
However, Ms Kruger said there was still hope because, while the PMI index dropped in July 2017, compared to June 2017, the movement was better than the downward 4.8 index points recorded from May 2017 to June 2017.
Dr Ade and Ms Kruger said next month’s data could improve, provided there was increased focus on the Government’s economic policy implementation, improved business and market sentiment, continued positive inflation outlook and a speedy resolution to the wage disputes in the metals and engineering industry.
ENDS
Issued by:
Siseko Njobeni
Communications Manager
Tel: (011) 298 9411 and 082 602 1725
Email: siseko@seifsa.co.za
Web: www.seifsa.co.za
FALLING PPI POINTS TO WEAK DEMAND PROSPECTS IN THE ECONOMY, SAYS SEIFSA
FALLING PPI POINTS TO WEAK DEMAND PROSPECTS IN THE ECONOMY, SAYS SEIFSA
Johannesburg, 27 July 2017 – South Africa’s hard-pressed manufacturers are on the receiving end of the weak economy as there is little room to pass on cost increases, Steel and Engineering Industries Federation of Southern Africa (SEIFSA) Economist Marique Kruger said today.
The June 2017 Producer Price Index (PPI) for intermediate goods, released by Statistics South Africa, recorded a 2.1% increase between June 2016 and June 2017, which is down from the 3.1% year-on-year increase recorded in May 2017.
“This reflects a 4th consecutive year on year decrease, which is indicative of a lack of demand pull factors in the system. The fact is the economy is very weak and there is just not enough room for manufacturers to pass on cost increases into the market. PPI measures factory gate prices and therefore a good proxy for selling price inflation in the metals and engineering sector,” Ms Kruger said.
The metals and engineering sector made up two-thirds of the make-up of the PPI for intermediate manufactured goods, she said.
Between June 2016 and June 2017 SEIFSA’s Composite input cost index, which tracks a basket of input costs for the metals and engineering, recorded a decrease of 4.1%, she said.
“This index has exhibited a decreasing trend since the latter part of 2016, largely attributable to a relatively stronger rand during this period. Imported inputs contribute just over a third to the sectors input cost basket and as a result, a stronger rand has really helped to contain input costs for manufacturer in the sector,” she said.
Even though selling price inflation had been on the decrease in the last four months, there was a positive deferential between selling price inflation and input cost inflation, which was indicative of reduced pressure on margins, allowing companies to recoup some historic losses and repair balance sheets to an extent. The decreasing selling price limited the extent to which companies could enjoy the positive deferential, she said.
“We anticipate a narrowing in this positive deferential given the fact that the economy remains weak therefore limiting the upside prospects for selling price inflation. In addition to that, the metals and engineering sector is in the process of hopefully concluding a new wage deal soon, which will result in an increase in inputs costs. We will continue to monitor this trend.” she concluded.
End
Issued by:
Siseko Njobeni
Communications Manager
Tel: (011) 298 9411 and 082 602 1725
Email: siseko@seifsa.co.za
Web: www.seifsa.co.za
HIGH-PROFILE SPEAKERS FOR THE 3rd ANNUAL SOUTHERN AFRICAN METALS AND ENGINEERING INDABA
HIGH-PROFILE SPEAKERS FOR THE 3rd ANNUAL SOUTHERN AFRICAN METALS AND ENGINEERING INDABA
JOHANNESBURG, 23 July 2017 – Renowned and prominent speakers will address delegates attending the 3rd Annual Southern African Metals and Engineering Indaba in September.
The Indaba will be held at the Industrial Development Corporation (IDC) Conference Centre in Sandton, from 14-15 September.
Now in its third year, the 2017 Indaba is an opportunity for business executives, captains of industry, policy makers, Government Ministers, academics, diplomats and labour leaders to discuss the challenges and opportunities facing the manufacturing, in general, and the steel and engineering sector, in particular.
This year’s conference, which will be held in partnership with the Industrial Development Corporation (IDC), takes place amid tough conditions in the sector which have resulted in, among others, lethargic growth, reduced exports, company closures/ liquidations and job losses. Efforts to rekindle growth in investment and employment in the sector require collaboration and cooperation between the Government, business and labour.
Highlights of the conference will include addresses by Minister of Labour Mildred Oliphant, Minister of Small Businesses Lindiwe Zulu and Cosatu General Secretary Bheki Ntshalintshali. ANC National Executive Committee member and former Chairperson of the African Union (AU), Dr Nkosazana Dlamini-Zuma, will deliver the closing remarks.
Other speakers will include Zimbabwean academic and political commentator Dr Ibbo Mandaza, businesswoman Dr Mamphela Ramphele, CEO of the of Mapungubwe Institute for Strategic Reflection (MISTRA) Joel Netshitenzhe, CEO of the Manufacturing, Engineering and Related Services Sector Education and Training Authority (merSETA) Dr Raymond Patel, Massmart Cchairman Kuseni Dlamini, Chief Commissioner of the International Trade and Administration Commission Siyabulela Tsengiwe and the CEO of the Manufacturing Circle, Phillipa Rodseth.
SEIFSA Chief Executive Officer Kaizer Nyatsumba said the 2017 Indaba would build on the resounding successes of the two previous conferences. Last year’s conference included speeches by former President Kgalema Motlanthe, former Business Unity South Africa CEO Khanyisile Kweyama and Department of Trade and Industry Deputy Director-General Garth Strachan.
“We hope that, as in previous years, delegates at this year’s conference will engage in vigorous debate on matters affecting the sector and the economy at large. The speakers are experts in their areas of focus. The sessions have been carefully structured to tackle the key challenges facing manufacturers,” Mr Nyatsumba said.
The 2017 Indaba will focus on the following topics, among others:
- Political Leadership in Southern Africa: Does it Advance or Hamper Economic Growth?
- Ensuring that Manufacturing in Southern Africa Is Internationally Competitive
- The Continental Free Trade Area: A Reality Before The End of 2017?
- Winning Together: Can Government, Business and Labour Conclude a Social Compact in the interest of Labour Stability and Foreign Investment
- The Automotive Production and Development Programme and the South African Metals and Engineering Sector
- Do Steel Import Tariffs Benefit or Hurt the South African Economy?
- South Africa’s Junk Credit Rating: What do we need to do to regain our sovereign credit investment rating?
End
Issued by:
Siseko Njobeni
Communications Manager
Tel: (011) 298 9411 and 082 602 1725
Email: siseko@seifsa.co.za
Web: www.seifsa.co.za