Patel says vision for R200bn in additional localisation has top-level corporate backing

Trade, Industry and Competition Minister Ebrahim Patel announced that an “accord” had been reached at the National Economic Development and Labour Council (Nedlac) to drive progressive localisation of up to R200-billion of additional production over a five-year period. Delivering his virtual Budget Vote, Patel said the strategy had the support of major corporates and that 30 ‘CEO champions’ – including Mamongae Mahlare of Illovo, Mark Cutifani of Anglo American, Vikesh Ramsunder of Clicks, Fleetwood Grobler of Sasol and Fortune Majapelo of Bushveld – had been nominated from the private sector to support the localisation push.