Compliance has been identified as a key component for South African manufacturers keen to capitalise on new trading opportunities in a post-Covid world.
That’s the word from risk and compliance expert Graham Welland who says that as more and more businesses move their production away from China in a bid to diversify their production lines post Covid-19, South Africa has been touted within the automotive and renewables industries as an alternative market that could potentially flourish. While Welland’s comments refer specifically to business with the UK, they are globally relevant.
“Over the past few decades, China has served as the production hub for businesses across multiple industries, but recent reports suggest this may soon change,” says Welland.
“The frailty of the global supply chain has been highlighted by Covid-19’s devastating world tour – sparking widespread quests for supply chain diversification into alternative markets in recent months.
“South Africa’s price competitiveness and accessibility is why it has been tipped to drive substantial growth into the country and furthermore establish itself as a reputable trading nation.”
In light of these reports, Welland – who is CEO of international business risk and compliance firm GWCI in the UK – has advised South African manufacturers to embrace regulatory compliance if they are to invite lucrative overseas contracts and capitalise on the forecast mass exodus from China.
