Good news for SA auto industry; SAB investments yielding results; FlySafair competitors continue to cry foul; and more people missing in George building collapse than presumed.
In 2023, South Africa’s auto trade balance improved to R21.1 billion, up 7.6% from R19.6 billion in 2022, driven by record vehicle exports. Norman Lamprecht from Naamsa highlighted that since 2008, exports have been crucial for the industry’s trade balance. The sector, being the largest in the country’s manufacturing, contributed 21.9% to domestic manufacturing output and 5.3% to the GDP, with manufacturing and retail accounting for 3.2% and 2.1% respectively.
[Airlink and Global Airways are set to argue at a hearing that foreign investors/shareholders predominantly own FlySafair, breaching South African laws and licensing conditions which requires that holders of aviation licences in South Africa have a minimum of 75% local shareholding. Airlink and Global Airways argue that Safair no longer complies with the Air Services Licensing Act because the airline’s voting rights are not held by individuals based in South Africa.
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