Industry organisation the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) has established itself as a key player in the national dialogue, and is now well-capacitated to tackle challenges facing the sector and country, serving as a cornerstone for future industrialisation.

This was highlighted during SEIFSA’s yearly breakfast, held in Johannesburg on October 3.

Incoming president Mervyn Naidoo pointed out that the sector, economy and country faced a “highly volatile” environment with myriad challenges.

He emphasised the need to bolster industrialisation and localisation, noting that the country had the means to do so.

With Africa set to boast the largest youthful economic population by 2050, and endowment with vast mineral reserves and uncultivated, arable land, the region has potential to turn around its fortunes, Naidoo said.

He highlighted infrastructure development as the “central issue of our time”, stressing that reliable energy systems, modernised logistics networks, rehabilitated ports and secured water supply were key.

Naidoo called for SEIFSA to be a driving partner in these endeavours, championing a “bold industrialisation agenda” under his new leadership.

Outgoing president Elias Monage said SEIFSA had made importance strides as an authoritative voice of industry.

He highlighted that the organisation is regularly consulted by the Presidency and government departments; has enhanced its collaboration with labour, government and business organisations; and has strengthened its advocacy capacity.

Moreover, SEIFSA provided reliance for members during crises, including the pandemic and energy disruptions, Monage said.

He expressed optimism that SIEFSA was well-equipped to manage future challenges, emphasising that the metals and engineering sector remained the cornerstone of the country’s future and its re-industrialisation goals.

Meanwhile, keynote speaker Moeletsi Mbeki highlighted the political challenges facing South Africa – unaccountable governance, a non-performing economy and an expensive, incapable State – which have contributed to voter dissatisfaction.

As a result, he said, the country was seeing an end to more than 100 years of nationalism. Mbeki stressed that SEIFSA and other stakeholders must address the changes that follow, to mitigate the governance vacuum that is emerging.

He also emphasised the need to re-modernise the country’s economy.