Renewed Regionalism: Supporting a Recovery in Local Manufacturing
The Covid-19 crisis is the most recent force to reshape the industrial landscape, but it is by no means the only factor affecting the future of industrial supply and demand. With this in mind, Standard Bank is bringing together local manufacturers to discuss ways in which South African based manufacturers can assist in developing more stable supply chains and gain from the expected reorganisation of the global economy.
If the global industrial economy shifts away from widely distributed supply chains and global procurement, South African based manufacturers should position themselves to benefit. As they explore new sources of demand, banks should be able to support projects that are likely to succeed. With some careful planning and collaboration, our local industrial capacity can be used to promote resilience, more balanced trade and greater investment.
A rejuvenated manufacturing sector would not only be good for industrial firms that make masks, food, medicine, clothing, tyres and furniture. The survival of local factories would also protect other parts of the SA economy from some of the most painful consequences of the current economic slump. Whatever happens, the best way to predict the future of local manufacturing is to agree that we will create it ourselves.
Find out more about Standard Bank's Industrials Sector capabilities.