South Africa to use export credit to support reindustrialization of the economy

(Business Day Live, Capetown, 9 May 2016) A greater focus on the use of gas as a pillar of industrialisation is one of the new elements in the latest industrial policy action plan (Ipap), launched on Monday by Trade and Industry Minister Rob Davies. The minister said the Ipap 2016 continued the department’s drive to reindustrialise the economy. The targeted industrial financing and incentive support placed more emphasis on export credit and export credit insurance to support the country’s export effort. It also focused more on sector-specific rather than generalised incentives. In particular sector-specific incentives will be designed for the agro-processing and rail components sectors.