SA looking at privately-owned SEZs to arrest deindustrialisation
” The World Bank found SA’s job creation through SEZs lagged peer countries on jobs per hectare, and was weak on employment tax incentives and skills development (with just two people trained per R1 million spent).
Earlier this year it was announced that SA had secured R890 billion in investment commitments in mining, mineral beneficiation, automotive manufacturing, agro-processing, tourism, renewable energy, digital technologies and the green economy.
Only 12% of businesses within South African SEZs have successfully claimed the headline 15% tax rate – a damning indictment of the incentive’s accessibility, says the World Bank.
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