Boatbuilding stakeholders are cautiously optimistic about the composition of President Cyril Ramaphosa’s new-look cabinet. There is new leadership in charge of historically under-performing portfolios, notably Home Affairs; but there is also much-needed continuity in the key finance portfolio, which has helped settle the jittery markets.
Stakeholders are particularly relieved about a visa application reprieve issued by incoming Home Affairs Minister Leon Schreiber, who has granted an extension for all foreign visa applications caught up in an ongoing application bottleneck. Over the years some yards have expressed frustration at visa delays related to foreign workers bringing much-needed scarce skills, whereas visiting cruisers say the bottleneck impacts upon their ability to effect repairs – which sometimes require lengthy stopovers.
There is also optimism about the move to improve the country’s logistics sector by introducing more public-private partnership, while most analysts have welcomed the scrapping of the Department of Public Enterprises.
The wave of optimism is reflected in a recent commentary by the Cape Chamber of Commerce and Industry, of which SABBEX is an affiliate member. “Despite the icy grip of winter there is good reason to feel warm and fuzzy about the Western Cape economy,” the Cape Chamber says in its most recent newsletter. “Consider this: the Western Cape economy is underpinned by four key sectors: financial services, manufacturing, tourism and agriculture. Three of these are largely dependent upon efficient transport infrastructure, notably ports and roads, and there is certainly cause for optimism about the GNU’s commitment to improving performance in this sphere.”
Boat builders will be hoping this optimism is not misplaced.