Govt preparing new laws to restrict foreign-owned business and 'protect locals'
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:
This article first appeared on 702 : Govt preparing new laws to restrict foreign-owned business and 'protect locals'
Sales of fitness products are soaring as the pandemic focuses attention on health improvement and home exercise.Read More
'Nature's Gold' was trademarked by the KZN startup. FLM should have checked properly, admits its legal director on The Money Show.Read More
Get yours before the bubble popsRead More
Currently, vaccine manufacturers won't sell to businesses responds Profmed CEO Craig Comrie after Afriforum legal challenge.Read More
The hospitality sector has been granted an urgent interdict to halt the implementation of new labour rules amid an ongoing collective agreement fight.Read More
UCT African Centre For Cities' Edgar Pieterse says reimagining Bellville is not something in the future. It is already happening.Read More
After a complaint, Tiger Brands has added 'don't spray on food' to campaign showing man's meal interrupted by a flying insect.Read More
Spur's profits plummeted in the wake of lockdowns, but the loyalty of customers is 'quite amazing' says Group CEO Val Nichas.Read More
Not all businesses suffered losses because of the pandemic. Bruce Whitfield interviews Cashbuild CEO Werner de Jager.Read More
Zondo Commission: Former Eskom CEO Brian Molefe repeated allegations about the capture of Eskom by Glencore and Ramaphosa.Read More