In a concerted attempt to revive the country’s stagnant economy, the Proudly South African initiative has encouraged citizens to buy local products.
This call was made on 10 March, during the launch of the initiative’s tenth annual Buy Local Summit.
South African corporates were encouraged to increase their uptake of locally sourced and manufactured goods and services required by their day-to-day operations. Consumers were also educated on labels of origin and their role in contributing to job creation by making local choices.
“The lack of local demand remains one of the most significant obstacles limiting the growth potential of South Africa’s economy,” said Eustace Mashimbye, chief executive officer of Proudly South African.
“The country’s manufacturing sector, a crucial labour absorber which accounts for 13% of the country’s gross domestic product, remains significantly underutilised.
“This issue has grown over the past decade, exacerbating the rising unemployment rate.”
Statistics South Africa revealed that manufacturing product utilisation decreased from 80,6% in 2011 to 77,6%, largely owing to a lack of demand.
The means to maximise buy-in and support for local products formed part of the discussions.
According to Mashimbye, activation sessions exploring South Africa’s automotive and furniture industries are in the pipeline.
- The summit took place from 14 to 16 March.
