NEVA MAKGETLA: Localisation can only work if closely watched and tuned

NEVA MAKGETLA: Localisation can only work if closely watched and tuned

2022-01-18 12:46:00 PM

NEVA MAKGETLA: Localisation can only work if closely watched and tuned

A powerful way to jump-start new industries, it needs a strategy of diversification

Neva MakgetlaLocalisation has become largely synonymous with SA’s industrial policy, although critics contend that it will raise costs and distract from export markets. However, debates about its general principles may miss the point. Industrial policy depends on a pragmatic, case-by-case approach to the constraints on different industries.

Instead of discussing localisation in the abstract, its fundamental methodology requires us to pinpoint the conditions where the benefits should outweigh the costs, and then testing that understanding against the evidence for specific value chains...B

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18 January 2022 - 05:05 Neva Makgetla Localisation has become largely synonymous with SA’s industrial policy, although critics contend that it will raise costs and distract from export markets. However, debates about its general principles may miss the point. Industrial policy depends on a pragmatic, case-by-case approach to the constraints on different industries. Instead of discussing localisation in the abstract, its fundamental methodology requires us to pinpoint the conditions where the benefits should outweigh the costs, and then testing that understanding against the evidence for specific value chains... B Premium This article is reserved for our subscribers. A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily. Already subscribed? Simply sign in below.