Africa needs to prioritise industrialisation and regional economic diversification to realise its potential as the next growth frontier. That was the message from Minister of Trade and Industry, Dr Rob Davies, to the Swiss business community during a recent official visit to that country to deepen bilateral economic relations. Davies explained that Broad-Based Black Economic Empowerment policy was being refocused towards the development of enterprises as well as skills development, contributing to the national objective of reducing unemployment and creating opportunities for black-owned enterprises to grow. “Switzerland ranks as the seventh-largest foreign direct investor in South Africa,” Davies said. “Since 2003, Switzerland has invested in about 30 projects in South Africa, with direct investment volume estimated at R17 billion over the period 2003-2012.”
