Cova advisory briefs investors on Incentives and Special Economic Zones
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Cova Advisory, an investment consulting firm, has just held two masterclasses on key elements of the SA investment landscape – Investment Grants and Incentives and Special Economic Zones (SEZs).
The webinars explored the complexities, opportunities and potential pitfalls of these two central SA government programmes, which are designed to attract both domestic and international businesses.
“As we feel the continuing effects of the Covid pandemic, made more acute by the recent riots in KZN and Gauteng, it is more vital than ever for South Africa’s economy, for jobs and growth, that more investment is attracted here,” said Cova co-founder Duane Newman.
“Despite massive pressure on the country’s budget, there are state resources on offer, although sometimes these are unappreciated, poorly understood - and sometimes even ignored - by businesses.
“Our first webinar in partnership with the Johannesburg Chamber of Commerce and Industry and the South African Council for Automation and Control on investment grants and incentives took business leaders through the range of available support, with invaluable advice on the need to properly understand, weigh-up what is on offer, and to properly incorporate incentives into business plans from Day 1.”
Cova’s other founder Tumelo Chipfupa added that vital - and sometimes costly - lessons have been learned by some firms that failed to properly understand the complexities and procedures involved.
“The rewards can be enormous, but so can the hurdles which need to be overcome,” he explained.
“I hosted the second webinar, which looked at the SEZs, and brought in first-hand expertise and guidance from people actually involved in running three SEZs – the two around the OR Tambo and King Shaka international airports and the one at the port of Saldanha.
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