Magazine article African Business

SA Business Chiefs Lukewarm about Nepad

Magazine article African Business

SA Business Chiefs Lukewarm about Nepad

Article excerpt

The CEOs of South Africa's largest companies have applauded the recent pledge by African leaders to strengthen economic development across the continent through the New Partnership for Africa's Development (Nepad). However, they do not expect the initiative to have a major impact on their companies' future expansion plans during the next few years, according to a Globalisation and the Impact of Nepad survey released recently by management consulting firm A.T. Kearney.

The CEOs of South Africa's 100 largest publicly listed companies were asked for their perspectives on how Nepad would influence their companies' international expansion plans. Nepad is a pledge by African leaders to promote accelerated growth and sustainable development within Africa by improving corporate governance, corporate social responsibility and economic governance by African nations.

"With many South African industries dominated by one or two companies and domestic markets nearly saturated, foreign expansion will continue to be an important growth strategy for South African companies in the future," said Andrew Skudder, the A.T. Kearney consultant who directed the survey.

"The degree to which that expansion involves investments in other markets on the African continent puts South African companies in a critical position to drive the success of Nepad in the years ahead."

Respondents believe South Africa's cheap labour, inexpensive energy, com petitive raw materials (steel, aluminium, pulp, precious metals, etc. …

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