South Africa, World Bank Hold Seminar on Doing Business

By Modupe Gbadeyanka

The Department of Trade and Industry (the dti) through its Trade Invest Africa (TIA) division, has partnered with the World Bank Group to host a seminar on How to Succeed in Doing Business with the World Bank on the African Continent.

The seminar is slated to take place at the Radisson Blu Gautrain Hotel in Sandton on Friday, September 29, 2017.

Private sector representatives from the built environment, steel, electro-technical, capital equipment and steel construction sectors, as well representatives of development finance institutions (FDIs) will attend the seminar.

According to the Acting Chief Executive Officer of TIA, Ms Lerato Mataboge, the seminar will provide a platform where the World Bank Group will share how it engages and works with the private sector in its partnership with governments, and its private sector financing vehicles.

“The seminar will also provide an opportunity for the private sector to learn more about the procurement and financing policies and procedures of the World Bank, the IFC and MIGA.More importantly, the World Bank Group will also share their observations on why South African companies are not securing as many business opportunities with the Bank in developing country markets, compared to their Asian, European, Australian and US counterparts,” says Mataboge.

“The International Development Association, which is the concessional financing agency of the World Bank, plans to use $45 billion for projects in low-income countries, particularly in Africa.

“It is expected that the volume of investments in Africa will grow given that the IDA package includes efforts to encourage private sector investment and growth.

“This development presents opportunities for growth in the region, possibilities for greater participation of private companies as service providers and as investors.

“Although South Africa does not qualify for this funding, companies in various sectors such as engineering and construction, can bid for tenders for projects financed by the World Bank in other African countries. The seminar will go a long way in assisting South African companies to take advantage of this opportunity,” says Ms Mataboge.

She explains that the South Africa-World Bank Group partnership strategy that is driven by the National Treasury prioritises three programme areas, namely reducing inequality, promoting investments, and strengthening institutions.

“Trade Invest Africa is providing the dti response to this strategy by facilitating access to information and opportunities for the South African private sector,” says Ms Mataboge.