South Africa's industrial policy requires urgent overhaul towards sustainability

Banele Ginindza

South Africa's industrial policy needs a rethink in several areas, including the review of fossil fuel subsidies, which have tripled from R39 billion in the period between 2018 to 2023 to about R118bn in the current term with little tangible benefit for the economy. These are the views of a panel of experts during a discussion on Rethinking South Africa's Industrial Policy at the Trade and Industrial Policies Strategies (TIPS) webinar on Wednesday. They said the review also needed to encompass the country's carbon tax tariffs currently below $10 per ton on imports while the country's exports to market, including the European Union (EU) and the US and range between $30 per ton to R50 per ton. The increase was largely driven by the global energy crisis, with consumer subsidies…

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Star South Africa (Digital) - 1 Issue, 2025-03-20

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