Global investors go local

2015-10-07 06:00
Sam Mashinini (left), Ace Magashule (middle), and Playfair Morule (right). 

Photo: Conrad Bornman

Sam Mashinini (left), Ace Magashule (middle), and Playfair Morule (right). Photo: Conrad Bornman

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THE South African high commissioner to India, Playfair Morule, says that the Free State and the country will be flooded with investors following the Free State global investors trade bridge, which was attended by dignitaries from 26 countries across the globe.

Launching the event on Monday (05/10) at the Macufe Dome in Willows, Bloemfontein, Premier Ace Magashule said the purpose of the event was to get local traders to share their experiences and create business partnerships with international traders.

“The event is a good marketing tool to direct attention to the many lucrative business prospects in the Free State,” he added.

Morule said the government was investing in bilateral trade between South Africa and India which currently stands at $13 billion, and which it wants to increase to $18 billion by 2018.

The week-long trade bridge will give local traders an opportunity to exhibit their products in the hope of securing foreign investors.

Morule said the provincial government hoped to secure investors in the rehabilitation of mining towns across the province, advancing agro-processing in the agricultural sector and boosting the pharmaceutical sector.

Bed and linen manufacturer of King’s Comfort, Molefe Molefe, said the trade bridge would create opportunities for local traders to get investors to finance budding entrepreneurs.

Molefe is one of the many local traders exhibiting their products at the Macufe Dome.

Employing more than 88 people at the bed factory in Botshabelo, Molefe said more money would allow him to create more bed manufacturing factories throughout the country.

The dignitaries attending the trade bridge include the South African ambassador to Spain, Smuts Ngonyama, the Russian ambassador to South Africa, Michael Petrakov, representatives of several universities from Turkey, Cuba, India, China, Germany, Botswana, Lesotho, Mozambique and Zambia.

During the trade bridge there will be 200 exhibition stalls and traders and the public will get the opportunity to network with local and foreign business people and academics

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