Tafadzwa Chibanguza, SEIFSA Senior Economist, featured on the Moneyweb’s Money Talk on Radio 2000 with Tumisang Ndlovu where he illustrated the challenges of the 3% decline in the demand for steel products. Click here to listen.
Watch SEIFSA Senior Economist, Tafadzwa Chibanguza, discuss the warning announcement by S&P about a possible downgrade of the local economy to junk status and the impact around such.
JOHANNESBURG, 6 September 2016 – The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) welcomes the decision by the Group of 20 (G-20) leaders to address excess global steel capacity.
SA’s metals sector and engineering are at a crossroads, an opinion editorial by Henk Langenhoven, SEIFSA’s chief economist featured in both The Star’s Business Report and Business Day on 17 August 2016.
There is no doubt that the metals and engineering sector in South Africa is at a crossroad. Unfortunately, the debate about what needs to be done focuses almost entirely on tariff protection and whether upstream or downstream industries will benefit or be harmed by this move. This makes the perspective a type of zero-sum game analysis.
In their book, No Ordinary Disruption: The Four Global Forces Breaking All The Trends, McKinsey Global Institute Directors Richard Dobbs, James Manyika and Jonathan Woetzel warn about “four forces colliding and transforming the global economy: the rise of emerging markets, the accelerating impact of technology on the natural forces of market competition, an aging world population, and accelerating flows of trade, capital and people.” They stress that any business or country hoping to remain in business or competitive simply has no choice but to understand, embrace and anticipate these powerful forces and to move either in tandem with or, whenever possible, ahead of them. Read more.
At its meeting on 1 August 2016, the SEIFSA Board advised that member companies be made aware of recent amendments to the Pension Fund Act that became effective from 28 February 2014. It is vitally important that member companies take note of and/or implement the points in this communication. Please click here for the letter.
The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) encourages affected members to participate in a review of customs duty on downstream steel products following a tariffs call coordinated by the International Trade Administration Commission of South Africa (ITAC).
“SEIFSA encourages any member company or Association that needs to apply or act on behalf of its members to do so,” said Henk Langenhoven, SEIFSA Chief Economist.