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Govt preparing new laws to restrict foreign-owned business and 'protect locals'

26 September 2019 1:20 PM
Tags:
Economy
minister
legislation
laws
Khumbudzo Ntshavheni
Small Business Development
foreign-owned business

Small Business Minister Khumbudzo Ntshavheni says the laws will regulate the participation of foreign nationals in SA's economy.

Government is developing legislation that will bar foreign nationals from operating in certain sections of the economy.

Small Business Development Minister Khumbudzo Ntshavheni has confirmed the plans to regulate the participation of foreign nationals in South Africa's economy.

According to the minster, countries such as Nigeria, Zim, Ethiopia, Tanzania, Ghana, Bangladesh, Pakistan all have legislation that bans immigrants from participating in certain sectors.

Ntshavheni says the legislation will also create support measures for South Africans in the chosen sector of the economy.

Currently, she says the government cannot account for the businesses conducted by foreign nationals in South Africa or their economic impact.

We want to strengthen the protection for the locals.

Khumbudzo Ntshavheni, Minister of Small Business Development

We currently do not have enabling legislation that allows us to regulate participation of foreign nationals in the country.

Khumbudzo Ntshavheni, Minister of Small Business Development

Listen to the minister discuss the plans with Clement Manyathela:


26 September 2019 1:20 PM
Tags:
Economy
minister
legislation
laws
Khumbudzo Ntshavheni
Small Business Development
foreign-owned business

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