Weak rand makes SA ‘favourable for investors’

Cape Town - The Consumer Goods Forum’s annual summit at the Cape Town International Convention Centre (CTICC) focused on improving the retail experience for consumers and capitalised on Africa’s growing retail industry, says Deputy President Cyril Ramaphosa.

During his opening statement, Ramaphosa said the summit was an excellent platform for industry leaders and entrepreneurs to share experiences on the needs of modern consumers.

“It is an opportunity for collaboration and refining of digital strategies.

“It is an opportunity for sharing innovative ways to reach consumers in new ways to drive growth, create decent employment, and entire national economies.”

Heads of Walmart, Tesco, Campbell’s, The Coca-Cola Company, Nestlé, McCain, Pick n Pay and PepsiCo were some of the food industry big-wigs who attended.

Mayco member for tourism, events and economic development, Garreth Bloor, said the City’s strategy to become Africa’s events capital was well served by such summits.

“Collectively, the large events that attract local and international visitors inject over R2 billion into our economy on an annual basis.”

President of Retail at Nielsen, Steve Matthesen, said emerging markets are large and growing and their consumer purchasing power is growing faster than in developed markets.

“Now is a good time for global retailers to invest in emerging markets like South Africa, where the weak rand is favourable for investment.”

CTICC chairperson Julie-May Ellingson said the significance of hosting events like the forum provided an opportunity for both local and international delegates to network with some of the world’s most successful companies.

“By hosting these international association events, the CTICC is able to contribute to the knowledge economy.

“The CTICC is very honoured to be the first to host a conference of this kind in Africa, and within the Mother City, Cape Town.”

nicolette.dirk@inl.co.za

CAPE TIMES