“We have the infrastructure to ignite the economy and the Free State provides a basket of opportunities for the forward-thinking investor,” said Head of the Economic Development Department, Mogokare Richard Seleke.
Presenting the readiness of local investors to the delegates and VIPs on the second day of the Free State Global Investors Trade Bridge, he raised the challenges faced by the Free State, but his presentation highlighted that these are outweighed by the opportunities as long as the free flow of goods and commodities up into Africa and beyond takes place.
“There is growth in agriculture and fluctuation in mining. Minerals are a finite resource and there has to be life beyond mining,” he said.
“While in the second quarter of this year the manufacturing sector remained stagnant, retail grew, which means an increase in imports.
“Electricity means that this country remains one of the most important in the southern hemisphere in terms of investment.
“Not only does the Xhariep region, for example, have its significant solar hub using this natural resource for renewable energy, but this beautiful area is ripe for tourism.
“The Thabo Mofutsanyane district, with the Drakensburg and Multi mountains and the Golden Gate reserve is an eco-tourism hub already.
“Compared to other countries, our labour cost remains competitive. This is a very important investor destination,” he concluded.
Country within a country
Lesotho’s relationship with the Free State is a highly strategic one, with it sharing borders and a very special bond through the history of the apartheid era.
High Commissioner Lebo Seshoka said: “We strive for a prosperous country, peace in Africa and in the world.
“Our cultures are related and many of our students are being educated in the Free State. We also have bi-lateral agreements between our two countries.
“This trade bridge benefits Lesotho and has been an eye-opener.”
Know the language
Representing Russian business at the trade bridge was Dr Nandi Mansumang, who stressed the multiple ways the Free State could benefit from its relationship with Russia in such sectors as oil, gas, mining and infrastructure development.
“The Russian-South African business council has a database of the various South African businesses with the Black Business Council. Reach out to them and we will assist in terms of matching businesses together,” she said.
“I also urge you to get to know the language of your partners so that it is easier to deal with them. Exchanging students is very good and there are some wonderful programmes in medicine and science, for example.
“Some of us are born and bred in Russia and the country is not foreign to us. There is the opportunity to bridge the gap and the Free State also presents many opportunities in the agricultural sector, with Russia able to provide state-of-the-art equipment, fertilisers and more.”