Brand South Africa has concluded a meaningful consultation session with the European Union investor community based in South Africa, which will see the country’s marketing and reputation management agency deepen its collaboration and partnership with the EU investment community.
Dr Petrus de Kock, General Manager for Research at Brand South Africa said: “The consultation session was focused on gathering deeper insights into the experience of business from the EU based in South Africa.
We will now refine our strategy to promote South Africa as an investment destination of choice whilst also communicating our findings with the various government departments that work and interact with the EU community in South Africa.”
Brand South Africa shared the findings from its International Investor Perceptions Research with EU business stakeholders that was released at the end of last year.
The research showed that the perception and reputation of South Africa fell amongst EU nations in recent years. However, large numbers of diverse investors from the European Union are active in the South African market.
EU nations represent an important trading partner and source of foreign direct investment for South Africa. The EU has historically been South Africa’s main trading partner and the biggest source of foreign direct investment (FDI). Firms from EU Member States represent over 75% of the nation’s total FDI stock.
Linda Sangaret, Chief Marketing Officer at Brand South Africa said: “We listened to their concerns and challenges and affirmed that the EU remains an important trading partner to South Africa.
What was encouraging and positive was that they expressed their desire for further collaboration and deepening of partnerships to promote South Africa in their country markets.”
Donnee Kruger, member of the Board of Trustees of the EU Chamber of Commerce and Industry in South Africa said: “The EU investor community in South Africa represents 2,000 companies with over 850,000 employees currently.
Profits of these companies increased 5% year-on-year within the last year, so it shows that these companies are an active and important part of the South African business landscape.”
Kruger also presented at the consultation a Business Climate Survey which included findings from research conducted by the EU Chamber of Commerce & Industry in South Africa.
The report indicated that 68% of European investors stated that they use South Africa as a base for their operations and trade relations in Africa.
In the context of shifting and uncertain geopolitical and global economic dynamics, Brand South Africa is hosting consultation sessions with its global trade partners in South Africa to strengthen ties that promote South Africa’s investor attractiveness and enhance its position as an investment destination of choice on the African continent. Inputs gathered from stakeholders will be utilised in planning for the Investment Summit announced by President Ramaphosa during the State Of The Nation Address 2018. Brand South Africa looks forward to gathering input from current investors to assess the competitive/comparative advantages the market offers to multinationals, as well as to gather insight into perceived and real challenges to doing business in South Africa.