South Africa : Equipment company to move manufacturing out of South Africa due to ‘volatility’
- 30 March 2022 / News / 441 / Fares RAHAHLIA
Equipment manufacturer Bell says it is looking to move part of its manufacturing business out of South Africa over growing volatility concerns.
Founded in 1954, Bell is one of the country’s leading construction machinery and equipment suppliers.
In its financial year-end statement published on Monday (28 March), the group said it remains committed to South Africa as a local manufacturer and is confident of the opportunities available to it.
However, it said that it is vital to its business that ‘customers around the world trust in its ability to support them regardless of local, regional or global events’.
“To safeguard the long term sustainability of the group, a growth plan is in place to ensure that Bell ADTs, as our higher volume products sold predominantly into northern hemisphere markets, are less exposed to the risks presented by the volatility of the South African landscape going forward.
“Consequently, over time more aspects of ADT manufacturing will shift to the northern hemisphere. This will enable the group to better protect and grow our South African base and increasingly focus on manufacturing the group’s growing range of lower volume products.”
To achieve this objective additional facilities, people and IT, both locally and abroad, will be required, the group said.
Trade federation Cosatu has warned that South Africa risks losing further jobs and company support if the country fails to fix its local government structures and municipalities.
In a presentation on the Division of Revenue Bill to parliament this week, the country’s largest trade federation slammed the government for being silent on these failures and the impact on the local job market.
Cosatu warned there are ‘real consequences’ to the government’s failure to fix local government.
“Municipal workers are being sent home unpaid. Roads, water, sanitation, and electricity are deteriorating at an alarming pace. Companies are closing, retrenching, and abandoning entire rural towns.
“Yet it seems our politicians have no idea on what needs to be done. Less than a year after the 2021 local elections, Mangaung Municipality is on the verge of being put under administration.”
Morocco : Al Haouz earthquake... All energy facilities are operating normally
- 29 September 2023
The Ministry of Energy Transition and Sustainable Development confirmed that all energy installations are operating normally, following the earthquake that struck Al Haouz Province and neighboring pro...
South Africa, This is how South Africa’s greylisting could hit these industries: PwC
- 26 April 2023
South Africa has a more globally integrated financial system when compared to other countries that have been previously greylisted, and, as a result, it must be treated uniquely, says financial servic...
South Africa : Domestic workers and the minimum wage – how jobs have been affected in South Africa
- 11 April 2023
The Department of Employment and Labour says that increases in the National Minimum Wage (NMW) have not impacted employment numbers in South Africa.This was minister Thembelani Thulas Nxesi’s response...