The Chairman of TBP eKapa, implementing partner of Cape Town Activa, was recently appointed to co-chair the Saudi Arabia South Africa Business Council (Busa). Surve is chairman of Sekunjalo Investments, a Western Cape based black-owned and controlled consortium which invests in a wide range of industries, from telecommunications and biotechnology to fishing and aquaculture.
Saudi Arabia South African Business Council has set up a R20m holding company in a bid to deepen trade and investment flows between their two countries. The holding company was formally endorsed in Saudi Arabia in April. The Saudi Arabia South Africa Business Council intends to create R20bn worth of business opportunities through its 50:50 joint venture company, It will initially home in on investments in agriculture, mining, mineral processing and petrochemicals.
According to a recent article on Moneyweb, “the holding company intends to facilitate joint ventures between the two countries and to conduct comprehensive feasibility studies on potential strategic business opportunities. The consortium will be open to all legally register and financially sound business entities in both countries”.
“We are open to being approached by South African companies who want to do business with Saudi Arabia,” said Surve, who added that the consortium would be able to facilitate participation between companies as well as participating directly in investments.
Trade and Industry Minister, Rob Davies, said the move to set up a consortium was part of a mission to seek out “new sources of dynamic trading opportunities around the world,” adding that he saw Saudi Arabia as a “dynamic economy.” “Already very large Saudi Arabian companies have indicated their willingness to participate. We’re expecting significant investment running into tens of billions of rands over the next few years,” said Surve.