Finally, with a little help from my friends, Indian Business has been invited to take its rightful seat at the Economic Table of South Africa. History has recorded that, during the Apartheid era, Black People in South Africa, were not able to partake in the business environment, but small business owners can attest to the fact that against all odds Independent SME (Small to Medium Enterprises) persevered, and today can proudly say that we have a meaningful impact in the economic landscape of South Africa.
One such sector, that I was asked to elaborate on by our parent body SAUBC is Indian Business, and this was my finding which was relayed to them:
- South Africa is home to the largest population of people of Indian descent (1.3 million as of 2015) on the continent, which makes up about 2.5% of the population and contributes not only to the diversity of this great country but also to the economy.
- With well over 150 corporate Indian companies based in South Africa and a myriad of South African SME’s too numerous to account for, Indian business has weathered over 100 years of discriminatory practices imposed on all Black people and yet has managed to thrive. Today Indian businesses plays host to over 18000 jobs in the corporate workplace and between 50-100 thousand South Africans in the SME sector. (CII-PwC)
- Indian Business in South Africa has had an infinitely positive impact on the country, and directly contributes over $4 billion dollars to the South African fiscal. (According to a report released by CII-PwC.)
“This report also aimed at providing an overview of Indo-South African business relations, and a snapshot of some of the key sectors reflecting India’s economic presence in South Africa.
The report showcased the contribution of Indian companies beyond foreign direct investment (FDI) in South Africa, including key CSR and skill development initiatives. According to the report, there exists substantial potential for trade growth between the two countries.
Exports from India to South Africa include vehicle parts, transport equipment, drugs and pharmaceuticals, engineering goods, footwear, chemicals, textiles and rice. The report noted that the value of bilateral trade has increased from $ 2.5 billion in 2003-04 to $ 11.79 billion in 2014-15, a growth of more than 400% in ten years.
However, trade between the two countries declined slightly to $ 9.5 billion in 2015-2016. Several factors explain this decline, including South Africa’s credit rating downgrade, policy uncertainty, political and economic uncertainty as well as exchange rate fluctuations, the report said. It projected that Indian business footprint in South Africa is likely to grow further; adding the South African business footprint in India is also expanding.” (Information provided by CII-PwC)
With numbers like this, it is no wonder that the Business Round Table of South Africa has asked Indian Businesses to take a seat at the board and to positively contribute to the resurgence of the ‘Economic Re-engineering’ of this powerhouse on the African continent.
With these numbers glaringly making a bold statement to include Indian business into the mainstream of the South African economy, the South African Indo-Afro Business Association (SAIBA) with the blessing of the South African United Business Confederation (SAUBC) decided to make a concerted effort to incorporate this sector onto our radar. We are proud to inform all disadvantaged businesses, that you now have a voice to air your views and opinions via the SAIBA platform. I promise that this association will work relentlessly towards the advancement of all people in South Africa, this is our mandate, and this is a part of my DNA, …a better SOUTH AFRICA FOR ALL.
I must place on record; this initiative would not have been possible had it not been for the tenacity of George Sebulela esq (Chairman of ‘The South African United Business Confederation’ SAUBC) whose insistence and guidance gave birth to the ‘South African Indo-Afro Business Association’ SAIBA.
“Mr Sebulela the South African Indo-Afro Business Association will be forever grateful for your vision to enhance all business sectors in South Africa”.
It is well documented that only as a ‘Collective’ can Business create a strong bargaining tool so that it can enrich the society for the greater good. This (SAIBA) ‘Collective’ juggernaut will hold the key to opening doors to the world economic stage so that we may be able to build and develop a data base of business knowledge from the world’s most inspired economic thinkers. To freely distribute this knowledge to all businesses in South Africa so that it may stimulate the economy and create a sustainable lifestyle for the people of South Africa.
I invite you to be a part of this wonderful entrepreneurial empowerment experience, and for all businesses under our watch to expand and explode onto the world markets. The phrase ‘Carpe Diem” (Seize the Day) holds true, for this is the moment for South African Business to show its metal, and SAIBA is your platform. Please feel free to engage with us to share your views and to take part in the treasure trove of business opportunities that await this organisation.
Dr Kinesh Pather.
(President)