Nhlanhla Nene, South Africa’s former finance minister has given in his own term, what would be a solution to the economic woes and increased unemployment in SA.
Speaking at an Inaugural Africa Agri Investment Indaba in Cape Town on Tuesday the former minister, Nhlanhla Nene said focusing on the agricultural sector will help put to rest the continued struggle to resuscitate the country’s weakened economy and unemployment issues.
Delivering his keynote address to a number of SA business individuals present at the inaugural venue, Nene said the agricultural sector addresses some of the country’s biggest problems, among them food security and employment.
There’s no gainsaying that the SA economy has been unstable with the rand consistently rising and falling amid looming unemployment rate and political crisis
The finance Minister Pravin Gordhan at a time declared South Africa’s unemployment plight, a national emergency, calling for all to join hands to end the surge.
Joblessness is thriving in South Africa and the country’s Finance Minister has declared the plight, a national emergency.
The event aims to bring together over 600 industry experts who would put heads together to discuss trends that influence food production and agri-business issues.
The untapped potential of the agricultural sector has long been regarded as key to dealing with pressing issues such as poverty as top concerned business individuals, Like Nhlanhla Nene, pointed out that the sector “actually creates opportunities for employment in other sectors that support agriculture or are supported by agriculture with regards to economic development.”
“If you look at the way Africa is positioned for the next 50 years and beyond from a food security point of view, Africa has a major role to play,” Western Cape Agriculture MEC Alan Winde said, noting that the indaba has been in the pipeline for some time.
Agriculture, Forestry and Fisheries Minister Senzeni Zokwana is also expected to address the gathering.
Meanwhile, report from the SA government has it that the country has been commended for being a leader in investment reform by the Secretary General of the United Nations Conference on Trade and Development (UNCTAD)
This was unveiled at the Africa Trade Week 2016 currently underway in Addis Ababa, Ethiopia, where Secretary General, Dr Mukhisa Kutiyi, praised South Africa for leading the global debate on Investment Policy Reforms.
“… the decision of South Africa to announce a sunset clause to the old stock of investment agreements may have sound radical and even very risky, but to the developing community it was an act of leadership which has open doors that now even the majors are agreed that we must start embracing a new framework for investment agreements,” he said.
Trade and Industry Minister Rod Davies is among those attending the trade week which is a new Pan-African platform for advancing intra-Africa trade dialogue among mutli-stakeholders.