JOHANNESBURG, 21 OCTOBER 2015 – The measures announced by Finance Minister Nhlanhla Nene in his medium-term budget policy statement this afternoon were not convincing and are unlikely to achieve their stated objectives, the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) said today.

Commenting on the mid-term budget policy statement, SEIFSA Chief Economist Henk Langenhoven said Mr Nene’s response to the national and international economic challenge – to make broad structural reforms, implement fiscal policy measures and rapidly implement the National Development Plan – were unlikely to succeed. This would leave South Africa squarely under the spotlight of international ratings agencies.

SEIFSA is acutely aware that the current economic environment may pose severe constraints on certain member companies, particularly insofar as the payment of Leave Enhancement Pay is concerned. These members are advised that the industry’s current exemption procedure insofar as the leave enhancement pay or the leave bonus, continues to apply.

A company which is unable to afford the Leave Enhancement Pay (LEP) may submit an application to its local regional council for exemption from paying the Leave Enhancement Pay to its employees.

JOHANNESBURG, 20 OCTOBER 2015 – Innovation was crucially important for the future survival of South Africa’s manufacturing sector, the Steel and Engineering Industries Federation of Southern Africa said today.

Speaking at the Industrial Development Conference held in Sandton, SEIFSA Chief Executive Officer Kaizer Nyatsumba said innovation would ultimately be the difference between thriving manufacturers and those that are merely surviving.

JOHANNESBURG, 19 OCTOBER 2015 – The search for top-performing companies in the Southern African metals and engineering sector in 2015 has officially begun, the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) said today.

The Federation, which launched the SEIFSA Awards for Excellence last year, has invited manufacturers operating in the metals and engineering sector within the Southern African region to submit their entries for the Awards.

JOHANNESBURG, 12 OCTOBER 2015 – For the very first time in its 72-year history, the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) has elected a woman as its President and Chairperson of its Board of Directors.

Transman founder and Chief Executive Officer Ms Angela Dick made history when she was elected President of SEIFSA at the organisation’s annual general meeting in Johannesburg on Friday, 9 October 2015. She replaces Scaw Metals Group Executive Chairman Mr Ufikile Khumalo, who was at the helm of the SEIFSA Board for two years.

JOHANNESBURG, 8 OCTOBER 2015 – The contraction in the metals and engineering sector is worsening, the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) warned today.