BRUSSELS, BELGIUM - NOVEMBER 15; 2018: President of South Africa Matamela Cyril Ramaphosa is talking to media at the end of an EU - South-Africa Summit meeting on climate change, migration to trade and security, in the Europa, the EU Council headquarter on November 15, 2018. (Photo by Thierry Monasse/Getty Images)

South Africa signs plan to enhance steel industry

On Jun 13, 2021

South Africa has signed a plan to support its steel industry, the Department of Trade, Industry and Competition said.

The Steel and Metal Fabrication Master Plan agreed by the government and stakeholders in the industry that contributes 600 billion rand ($43.7 billion) to gross domestic product “provides a blueprint for the industry to re-energize itself and expand production,” the department said Sunday in a statement posted on its website.

The plan comprises six priority areas, including addressing supply- and -demand-side measures and agreements related to African Continental Free Trade Area, the world’s biggest free-trade zone, the department said without giving details.

An oversight council made up of 35 members of industry, labor groups and public sector officials has been set up to drive its implementation, it added.

Bloomberg/Hauwa Abu