Ranches and property development business from South Africa
View(s):South African (SA) businesses are considering an investment of US$122 million in Sri Lanka to be pledged by a business delegation due in Colombo next year, on the heels of a mission that was here last week.
“I am pleased to announce that SAPOA, South African Property Owners’ Association, the biggest South African property owner only second to the Government of South Africa, is coming to Sri Lanka in 2013 February/March,” said Geoff Doidge, High Commissioner of South Africa in Colombo addressing a dinner hosted by the Export Development Board of the Ministry of Industry and Commerce in honour of the visiting high level South African business delegation in Colombo on September 7.
The Ministry said in a statement that the visiting mission was the largest South African business and industry delegation to visit Sri Lanka in recent times. It consisted of 30 leading business members of the powerful Progressive Business Forum of African National Congress (ANC-PBF), the ruling ANC’s business collective. The delegation was led by South Africa’s Deputy Minister of Economic Development, Ms Hlengiwe Mkhize, and accompanied by Renier Schoeman, core convenor of ANC-PBF (and also the former Deputy Foreign Minister).
Mr Doidge said SAPOA is mulling an initial investment of South African Rand one billion ($ 122 million) on a medium and long term basis in Sri Lanka.
The Ministry communiqué quoted Anura Siriwardene, Ministry Secretary as saying that the visit is very promising for business at both ends.
“There is no doubt that these win-win efforts are promising and will pave way for stronger bilateral trade in the long term. South Africa has become the most important trading partner for Sri Lanka in the Southern African region and there has been nearly 70% total trade increase between the two countries in 2011 to $ 65.52 million,” he added.
Hlengiwe Mkhize, South Africa’s Deputy Minister of Economic Development expressed optimism on the success of her mission to Colombo.
“This has been powerful. Our private sector representatives are talking seriously with Sri Lankan businesses. Cooperation in engineering, manufacturing, trade in general. I am quite happy. We are focusing on investments in infrastructure, water, and energy. Sri Lanka is our entrance mechanism to Asia.
South Africa and Sri Lanka share cultural ties, spices, foods and even certain values with people of Asian origin in South Africa,” she was quoted as saying.
She said the second business delegation from South Africa would have a thrust (focus) of women with many leading SA women biz representatives including from the ANC-PBF. Among the top South African business and industry entities in the delegation were SAWIMA (the powerful SA Women’s Mining Associationn–Deputy Minister Hlengiwe Mkhize is a key figure in SAWIMA) and Madoda Khuzwayo, international thought leader and visionary founder CEO of South Africa’s mynextmail.com. Dennis Classen, COO, Red Ant Securities Ltd, whose firm specialises in ‘specific government assistance in relocation and resettlement of people, including IDPs,’ said: “We are initially looking at a different type of investment here -the dairy sector. I am looking to start livestock farming in the Northern Province by bringing 1000 head of cattle from South Africa. I am also looking to develop a large scale ranch and a wild animal-park in Sri Lanka for adventure tourists by the introduction of selected South African wildlife here.”
Cyril Zwaine (Chairman, Boffin & Fundi-$ 55 Mn annual turnover), said: “We are excited by what we see in Sri Lanka. I am looking to invest in large scale water, irrigation, pipes and sewerage projects at our earliest. I also see strong potential in agro irrigation in the northern province with a suitable local partner.” The delegation also visited the North where. several delegates expressed their keen interest to enter agriculture and farming sectors in Jaffna peninsula in large scale.
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