Trade, Industry and Competition Minister Parks Tau said South Africa beat several of its investment targets in the 2025/2026 financial year. He said industrial investment reached more than R31 billion, against a target of R10 billion.
Tau presented the annual report of the Department of Trade, Industry and Competition (the dtic) to Parliament’s Portfolio Committee on Trade, Industry and Competition on Wednesday, according to SAnews.
According to the report, local procurement came to R86 billion against a target of R50 billion. Global exports reached R142 billion, above the R120 billion target.
The report said continental exports reached R146 billion. Exports by small, medium and micro enterprises (SMMEs) reached R764 billion, the department said.
“The goal is to move away from merely producing paper documents toward measuring actual outcomes for the South African economy,” Tau said.
Tau said the department was moving from crisis management to a focused industrial development plan. He said the revised strategy mainly focuses on Special Economic Zones and Industrial Parks for specific industries.
The minister said the dtic was working to find new markets through trade deals. These include preferences with the European Union, SADC, BRICS Plus, the United States, the United Kingdom and the rest of Africa.
“Efforts are being made to strengthen export promotion for manufacturing, including small, medium, and micro enterprises (SMMEs) and black-owned enterprises,” Tau said.
He said the department aimed to reach its targets despite global uncertainty. He pointed to conflicts in Europe and the Middle East and attacks on rules-based trade.
The report also listed problems. Manufacturing grew by 0.4%, just below the target of 0.5%.
Work on Industrial Parks was delayed by a lack of funding, the report said. Only 10 of the 45 targeted parks received money.
Tau said logistics problems caused a drop in imports of rail and transport parts. He said concessions were needed to keep operations going in the short term.
He added that talks with the United Kingdom on electric vehicles were still going on. He said this was because of concerns about local capacity and future investment interest.
Tau said the motor industry was making progress through the Automotive Master Plan. He said other industries were under pressure from outside the country.
“Poultry is facing increased US demand and quota issues related to five asks from the US,” he said. “The steel sector is dealing with increased tariffs that match those of the EU, constraining market access.”
According to the report, the department spent R9.1 billion on industrial incentives. Of this, R5 billion was paid out.
The Social Employment Fund received R1.3 billion, the report said. The department also spent R41 million on membership fees and made transfers to non-profit organisations.
The dtic said it still faced audit challenges. It said it needed better coordination with other government departments to align their programmes.
Source: this article is based on reporting by SAnews.gov.za. Image: GCIS via SAnews.gov.za. Written with the help of AI and published by the Tzaneen Voice News desk. See our Editorial Standards.
Kgomotso Maake covers news and politics for Tzaneen Voice. Kgomotso reports on government, Parliament, municipalities, courts, crime and service delivery across South Africa, with a close eye on how national decisions reach towns like Tzaneen and the wider Limpopo province. Stories are written in plain English and focus on the facts: who made the decision, what it means, and what happens next.