Tsabeng Nthite – With an impact of R324 billion on national GDP, South Africa’s petroleum industry plays a key role in the economic development and sustainability thereof of the country.
Brand South Africa through its digital campaign themed CEO’s Know this week focuses on the nations petroleum sector, which represents close to 9% of the GDP and directly employs approximately 100 000, and indirectly employs 700 000 people.
Positioning South Africa as an attractive investment destination is interlinked to the growth and development of the nation which depends extensively on the economic empowerment and meeting the needs of all economic citizens – the people and their enterprises – in a sustainable manner. And it is in this regard, that the petroleum industry’s impact in the energy sector and the economy has been extensive.
Pierre-Yves Sachet MD and CEO of Total says the industry’s successes is a result of the country’s conducive investment climate. Commenting on his interview for the CEOs Know campaign, Mr Sachet said: “South Africa is a great place for investment for various reasons due to the numerous incentives that are in place, and the most iconic of these has to be the 28% company tax which probably one of the lowest in the entire Africa parameter.”
South Africa’s Constitutional Democracy, Rule of Law, exemplary judiciary which continues to demonstrate high levels of resilience and the country’s prudent fiscal management and monetary policies, sound financial system, and world class infrastructure indicate that the country remains the continent’s leading Foreign Direct Investment (FDI) hub. These are all aspects which Sachet says are important in fostering FDI to South Africa.
“South Africa has always been and remains one of the countries where the rule of law and independence of justice are respected and they work, and this is important for foreign investors,” adds Sachet.
Established in 1954 in South Africa – Total has grown its business in more than 130 countries. Total is now a major player in the oil, gas and chemical industries. Its shareholders and employees come from a diverse range of backgrounds. The Total brand’s presence in the Southern African region is made up of Total South Africa, Total Namibia, Total Botswana, Total Swaziland and Totalgaz