Localised procurement back in the spotlight at Buy Local Summit & Expo

The imposition of 30% tariffs on South African exports to the United States has reignited fears of a jobs bloodbath and has seen many industries scrambling to find alternative markets for their produce.

While tariff hikes did not feature among the discussion points at the 14th edition of the Buy Local Summit & Expo, the annual two-day event highlighted some of the main challenges facing the economy, particularly the influx of illicit goods and unfair trade practises such as illicit money flows, dumping, and the spread of counterfeit products.

The conference also sought to ascertain the milestones that various role players have achieved to mitigate the adverse impact that offshore e-commerce retailers have had on the struggling local retail, clothing, footwear, textile, and leather industries sectors.

“In addition to the punitive tariffs imposed on South Africa, the economy continues to be battered on many fronts. The upcoming Buy Local Summit & Expo seeks to become more than just a talk shop, but more of an appraisal of the strides that various stakeholders have achieved to address some of the challenges that are debilitating our economy. The challenges we are facing give credence to the importance of tapping into the internal resources that we have to weather the storms and navigate our economy out of this morass. By aggregating consumer demand and harnessing our substantial public and private sectors, we can stimulate economic growth, reignite consumer demand, and create much-needed jobs,”

- Eustace Mashimbye, Chief Executive Officer - Proudly South African.

The Buy Local Summit & Expo attracts over 1,600 delegates, 200 exhibitors, government ministers, entrepreneurs, investors, and funders. One of the key sessions at the event is a business matchmaking session, which is a networking opportunity between small and medium-sized businesses and established conglomerates.