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key interventions . These include fixing Eskom , enabling private investment in generation capacity , and accelerating procurement from renewable energy , gas and battery storage .
Supplied by Mazars in South Africa
Shaun Vorster , business development head of sectors at Mazars in South Africa .
government ' s approach and its willingness to collaborate with the business sector to address these issues . In addition , while foreign Fixed Direct Investment is always welcome – all the capital required is also available locally .
The JICC comprises senior representatives from law enforcement agencies and businesses with the goal of removing obstacles to inclusive economic growth and job creation . To streamline the partnership between government and business , an independent structure called Business Against Crime South Africa ( BACSA ) has been established .
Environmental , social and governance ( ESG ) was a further burning issue at the Indaba and one with enormous applicability for South Africa .
Regulators in EU and North America are looking to introduce stringent new rules on reporting with new standardised international metrics to measure ESG . South African mining companies can no longer afford to pay lip service to sustainability issues , given their international operations in countries where these regulations apply . In future , their reporting will need to provide tangible evidence that their companies have a coherent sustainability strategy which they are actively implementing , with each year ’ s progress achieved clearly demonstrated . Earlier this year Mazars released a South African version of its international report , ESG : where are you on the journey ? This report encourages senior executives to emphasise the business case of ESG as an investment in the future .
The level of collaboration demonstrated at the Indaba gives investors reasons to feel more assured and secure . With ongoing collaboration and tangible actions , the mining sector can continue to attract and retain investors , contributing to the nation ' s economic growth and development . •
We commend the government ' s constructive engagement with business and acknowledging the intellectual capacity and leverage that the private sector has in making a difference . For the first time , there is a sense that the government is actively allowing business to contribute to the national interest , and the private sector will reciprocate in the national interest . At the moment , what South Africa needs is not more long-term action plans , but quick wins from tangible actions capable of making a significant impact .
There is far more support and collaboration from entities such as the South African Police Service ( SAPS ), the NPA and Hawks . The involvement of these entities , along with the presidency ' s drive to combat crime and corruption , has created a sense of unity and purpose between government and business – albeit not as visible as the improvements in energy and transport .
At the moment , what South Africa needs is not more long-term action plans , but quick wins from tangible actions capable of making a significant impact .
Among the more visible government-led initiatives , the NLCC is focusing on addressing the rail , port and road crises that hamper growth and job creation . Adopting a two-pronged approach , the committee aims to provide urgent interventions while implementing a reform agenda with long-term implications . The immediate focus includes opening rail and port networks . To ensure effective co-ordination and response , a joint strategic operations committee has been established between the NLCC and the private sector .
Furthermore , NECOM is responsible for overseeing the implementation of the Energy Action Plan , addressing the energy crisis faced by South Africa . In January 2023 , NECOM released a six-month progress update , which outlined
One of the pertinent panel discussions weighing in on how government and business are collaborating to find solutions to make South Africa more investable .
African Mning , incorporating Mining Mirror www . africanmining . co . za African Mining Publication African Mining African Mining • January 2024 • 71