James Archibald / Cape Town () – South African Deputy Minister of Small Business Development Elizabeth Thabethe said her country is encouraged by big investment companies from Turkey in their region, in her recent visit to Turkey.
Thabethe is currently in Turkey with a business delegation of about 35 business men and women who are ready to do business with the country. As part of the Outward Trade and Investment mission, the delegation includes South African manufacturers looking for export opportunities to Turkey. The delegation also seeks to attract investments into South Africa.
“As a country, we are encouraged by some of the big investment companies that have already invested in our country such as Arcelik, a leading manufacturer of home appliances in Turkey which acquired South Africa’s Defy Appliances for $324 million in 2011, the largest Turkish investment in South Africa to date” Deputy Minister Thabethe said.
“South Africa is an investment destination of choice and there should be no doubt about that” Deputy Minister Thabethe added.The department said that the mission also aimed “to build on the commitments made by the Department of Small Business Development in order to seek strong partnerships to help with exposing South African companies to international markets, while taking an opportunity to deepen bilateral trade and investment relations between these two countries.”
South Africa is a compelling investment destination, promoting itself as the "gateway to Africa" for companies seeking to expand on the continent. It is Africa's most developed and industrialised economy, having recently slipped behind Nigeria in terms of size but with a significantly smaller population.
Like many emerging economies, South Africa's rand currency has weakened sharply this year, having hit a 14-year low to the dollar on Monday. As such, it is able to provide cheaper exports, while at the same time reducing the cost of investments made within the country.
The programme for the Outward Trade and Investment mission will include business seminars, business-to-business meetings and site visits in Istanbul and Ankara, running from today until Thursday.