Johannesburg - As the Johannesburg Chamber of Commerce and Industry (JCCI) gears up to celebrate its 125th anniversary this year, it is putting several initiatives in place during Heritage Month in a bid to spur growth in the city’s economy.
Heritage Month is celebrated every year in September and recognises aspects of South African culture such as creative expression such as music and performances, our historical inheritance, language, the food we eat as well as the popular memory. This year’s theme is: “Our indigenous knowledge, our heritage: Towards the identification, promotion and preservation of South Africa’s living heritage”.
On Thursday,. South Africans will celebrate the official Heritage Day public holiday, which has come to be known as “Braai Day”.
JCCI president, Advocate Fay Mukaddam, says the chamber will also be doing its bit to promote the country, but its effort will focus on bolstering the economy.
Last month, second quarter gross domestic figures showed the economy had contracted by 1.3 percent, which means - if the third quarter also contracts - the country will be in a technical recession.
Many consumers already think that is the situation as, earlier this month, a Nielsen’s consumer confidence index report for the second quarter showed 73 percent of respondents believe the country is already in an economic slump.
Johannesburg contributes contributes 15 percent to Gross Domestic Product, while Gauteng adds 35 percent. The city, which started as a dusty tent town when gold was discovered, is growing faster than the general economy.
Yet, says Mukaddam, there are challenges that are hindering advances in economic gains. She says the city is still Africa’s economic hub, but has been losing traction, and the chamber aims to leverage off its global connections to encourage foreign investment in the city.
This month will see the JCCI, which was founded in 1890, just three years after the JSE was formed, launch two incubators. The first aims to help small and medium sized black businesses get their goods into markets other than SA. Mukaddam explains the SME Exporter Incubator aims to take advantage of the chamber’s local and international network to get South Africans onto the world stage.
In addition, says Mukaddam, the chamber - which has 2 500 members ranging from one-man shops to multinationals - will also incubate early-stage black businesses to get them to the next level through its mentorship programme.
Mukaddam says the chamber is also focusing on women and youth and will relaunch several initiatives around this area to provide support to female and youth-led enterprises.
“We are seeking to elevate our heritage and maximise what we have created.”
The JCCI also aims to encourage foreign companies to see SA as a hub to expanding in the region, which Mukaddam says will bring capital into Johannesburg. “We’re extremely patriotic, but understand it has become a global village.”
The chamber, which is based on the outskirts of town, believes it can offer an entry point for multinationals to a market of 1.1 billion people who are on the city’s doorstep.
Despite the challenges, Mukaddam is confident because she says there are “a lot of phenomenal people doing phenomenal work” in government and the private sector to bolster the city’s economy. Challenges facing the economy include labour regulations, and crime.
Yet, South Africa has a solid fiscal framework and a legacy of good legislation that makes it a sound country from which to operate, believes Mukaddam. However, she cautions the city cannot afford to be complacent.
IOL