Ramaphosa hails BMW's R4. 2bn EV investment as vote of confidence in SA economy
Image: ANC/X
President Cyril Ramaphosa has lauded BMW's latest investment in its Rosslyn plant as a "powerful symbol of trust" in South Africa's industrial future, calling it a major step in the country's green industrial revolution.
Speaking at the plant in Pretoria on Thursday, Ramaphosa celebrated the start of local production of the BMW X3 Plug-in Hybrid.
The president praised the German carmaker's R4.2 billion investment, saying it underscored South Africa's growing role as a competitive global hub for electric vehicle (EV) manufacturing.
'BMW's roots may be in Bavaria, but its beating heart is South African. You are building more than cars. You are building a legacy of excellence, inclusion and hope,' he said.
The automotive sector contributes nearly 5% to GDP and supports over half a million jobs.
As global markets shift toward clean mobility, Ramaphosa said South Africa must seize the opportunity to drive localisation, scale EV innovation, and deepen value chains through critical mineral beneficiation.
'We are finalising incentives for battery cell localisation, EV components, and clean mobility,' Ramaphosa said.
'South Africa is perfectly positioned to lead the mobility of the future.'
Ramaphosa urged BMW and other industry players to expand their footprint ahead of the upcoming South Africa Investment Conference, noting the urgency of diversifying export markets in light of rising US tariffs.
Ramaphosa also commended BMW's long-standing commitment to skills development.
The Rosslyn Training Academy has trained over 2,000 artisans since 1978, with 300 new apprentices each year. BMW's Youth Employment Service programme has placed over 3,500 young people in jobs nationwide.
'BMW's investment is not only economic — it's transformational,' Ramaphosa said.
With BMW celebrating over 50 years in South Africa, the President called the latest milestone a testament to resilient partnerships between business, labour, and government.
'As a GNU, we welcome your role in inclusive growth, transformation, and job creation,' he stated.
[email protected]
IOL
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
an hour ago
- IOL News
Durban City's Gavin Hunt concerned over loss of identity in SA football
Veteran coach Gavin Hunt will guide Durban City from the technical area in their debut season of the Betway Premiership. Photo: Backpagepix Image: Backpagepix Durban City head coach Gavin Hunt has expressed deep concern over the continued erasure of South African football's identity, following yet another major club sale — this time involving his former side, SuperSport United, now renamed Siwelele FC. Hunt, one of the most successful coaches in the local game, guided SuperSport to three consecutive league titles between 2008 and 2010 and is credited with nurturing a generation of top-flight talent during his time at the Tshwane-based outfit. Fix Football #LetsFixSAFootball Image: Independent Media The sale and rebranding of the club is personal for the veteran mentor — and symptomatic, he believes, of a wider issue plaguing the game. 'Club names should not change, that's the first thing I think is important,' Hunt said. 'If people buy clubs, then they should stay in the city the club is from and carry on from there.' This latest move follows a familiar pattern in South African football — Bidvest Wits, another of Hunt's former clubs and the 2016/17 league champions under his leadership, was also sold and dissolved in 2020, cutting ties with a century-long footballing heritage. 'You cannot build a support base, a stadium or training facilities if you're constantly uprooting clubs,' he added. 'So, if you buy a club, leave it where it is and keep the name so we won't have this [loss of history].' Hunt drew parallels with European giants, where foreign ownership rarely results in such radical overhauls. 'When the (Emirati owners or Saudi owners) buy Manchester City or the Americans buy Manchester United and Liverpool, they remain who they are,' he explained. There's no identities being lost — but we've lost our identity in South African football.' The coach warned that this constant shifting is making it harder for fans to connect with teams, particularly when clubs are moved to entirely different provinces or communities. 'People can't align themselves with these clubs because there's no identity and it's very sad to witness,' he said. Currently leading Durban City in the Betway First Division, Hunt is once again at the helm of a club with historic roots. And as someone who has spent decades shaping the local football narrative, he believes the game must return to prioritising long-term vision over short-term deals. While club sales may sometimes be necessary for financial survival, Hunt argues that preserving legacy, geography, and identity should never be compromised. Because for Hunt, football is more than just 90 minutes on a pitch — it's about building something that lives on for generations.
The Citizen
an hour ago
- The Citizen
BLSA welcomes approach to performance and accountability of municipalities
While South Africans worry about the state of our municipalities, the BLSA believes there is hope after meeting with the minister. After meeting with the Department of Cooperative Governance and Traditional Affairs Minister Velenkosini Hlabisa, Business Leadership South Africa (BLSA) says that it welcomes his department's approach to municipal performance and accountability. Busisiwe Mavuso, CEO of BLSA says in her weekly newsletter that the performance of municipalities, particularly the metros, is a serious concern for business because they rely on effective services to operate, as well as for employees and customers to be able to function. 'Water and local electricity outages create chaos and directly affect economic output. Recent estimates suggest that municipal service failures cost the South African economy billions annually, with small businesses particularly vulnerable to extended power and water cuts that can force temporary closures and drive away customers.' She says this crisis demands urgent collaboration between government and business, which is exactly what happened when she met with the Association of South African Chambers (ASAC) from the main metros and Minister Hlabisa, last week, to discuss the lack of performance in local government. 'And I must say that I found the minister's approach refreshing and encouraging. He fully grasps the issues that plague the performance of municipalities, from skills shortages to fraying infrastructure. He has plans for municipal reform that are well-thought-through and realistic.' ALSO READ: Municipalities: It's time to hold mayors to account – AG Quick response to BLSA request for meeting on municipalities Mavuso says the minister quickly responded to her request to meet after she engaged with ASAC regarding the challenges that businesses face in the metros. 'He was very open to discussion and hearing ideas from business on what can be done. He described the work he will be doing with political parties to elevate the importance of selecting mayors in municipalities, a critical point of influence on performance.' She says a good mayor can appoint a good city manager who can appoint a good chief financial officer, and so on, and this is important to build professionalism and competence in local government. 'The minister has plans to meet with all political parties to discuss how mayors are selected and to support them in identifying the right qualities for the right kind of people. His department has developed a white paper to fix issues within local government, and the minister called on business and other stakeholders to give input into the paper. 'The minister was clear that unless we create a conducive environment for businesses and residents with reliable services, inequality will continue to grow in our communities. He was also clear on the role that corruption plays in undermining municipal performance. He is an advocate for learning from the best-performing municipalities and adopting best practices widely.' ALSO READ: 'Same story year after year': MPs unhappy as Auditor-General reveals local government audit outcomes Minister promised to meet with large municipalities to discuss improving performance As a result of their meeting, the minister committed to engage with some of the large municipalities to discuss how performance can be improved, including eThekwini, Johannesburg, Msunduzi and Nelson Mandela Bay over the next two months. 'At those meetings, we will agree on interventions required, deadlines and monitoring mechanisms and then we will reconvene to discuss how we can work together to support performance improvements. 'I found the engagement productive and invigorating. The government of national unity continues to prove that it is committed to co-creating solutions with business. It is a welcome change from the sometimes-adversarial encounters we used to have, driven by ideological postures rather than a focus on solutions. 'I look forward to working much more with the minister and his team to improve municipal performance,' she says. ALSO READ: Governance shortcomings at the root of service delivery problems Accountability and the criminal justice system Mavuso says last week was a good one for accountability and the criminal justice system, with the suspension of Andrew Chauke as director of public prosecutions for South Gauteng an important, though overdue, step forward to improve the performance of the National Prosecuting Authority. 'The arrest of Sandton businessman Katiso Molefe over links to several murders is a step toward ending impunity for criminals. 'President Cyril Ramaphosa also demonstrated further accountability at cabinet level with the replacement of minister of Higher Education and Training Nobuhle Nkabane, who is accused of misleading parliament over appointments to the boards of the SETAs. 'This followed the suspension a week earlier of police minister Senzo Mchunu over allegations that he meddled in police investigations over political assassinations.' She hopes this rash of accountability becomes an accelerating trend as we finally get a grip on criminality and corruption in both the public and private sectors. 'An effective police force, including crime intelligence as well as highly capable public prosecutors, is going to be critical to do that. ALSO READ: How political interference hollowed out Saps and NPA BLSA has been helping NPA and will continue to do so 'BLSA has long advocated for improvement in investigations and prosecutions and actively put resources behind it through Business Against Crime and our memorandum of understanding with the NPA to support it with technical skills to build its cases.' Mavuso points out that the challenges facing our criminal justice system remain profound, stemming largely from the systematic damage inflicted during the state capture era. 'The NPA, in particular, has been battling to overcome the serious erosion of its capacity that occurred when skilled investigators were purged and replaced with political appointees whose primary function was protection rather than prosecution. 'This deliberate undermining created what can only be described as a paradise for white-collar criminals, where the probability of facing consequences for economic crimes became negligible.' ALSO READ: Justice Department and NPA agree to collaborate on access to Zondo commission database Rule of law important for economic growth and investor confidence She emphasises that the rule of law is fundamental to economic growth and investor confidence. When contracts become unenforceable, when businesses must shoulder massive fraud and corruption costs and when criminal syndicates flourish to spawn extortion networks that strangle legitimate enterprise, the entire economy suffers. 'This is why the recent accountability measures are so crucial – they signal a potential turning point in our fight against the institutional decay that has plagued our country.' However, she points out, accountability at the top must be matched by sustained capacity building throughout the system. 'The NPA continues to face an unprecedented caseload of complex state capture prosecutions while simultaneously trying to rebuild its investigative and prosecutorial capabilities. 'This is precisely why private sector support remains essential. Through our MOU with the NPA, we can provide the forensic investigators, data analysts and specialised skills needed to build strong cases that will lead to successful prosecutions, all while ensuring the NPA's independence and integrity remain sacrosanct.'
IOL News
an hour ago
- IOL News
SARS introduces new enhancements for non-resident taxpayers in 2025 tax return process
The South African Revenue Service (SARS) has moved to make things easier for non-resident taxpayers earning income from South African sources Image: Timothy Bernard / Independent Newspapers The South African Revenue Service (SARS) has moved to make things easier for non-resident taxpayers earning income from South African sources by introducing new enhancements to the 2025 tax return process. These changes include updates to the ITR12 tax return form to help ensure non-residents complete the correct sections and submit accurate returns. "These enhancements aim to ensure that non-residents complete the correct required fields in the return. An interim solution to activate this part of the tax return has been introduced via the SARS Online Query System (SOQS)," SARS said. "This allows non-resident taxpayers to request the non-resident section of the tax return. A more permanent solution, directly on the tax return through the tax return 'wizard', will be introduced later. To use SOQS to enable the non-resident section of the tax return: On the SARS website homepage, click on the SOQS icon , and navigate to the ' Non-Resident Tax Return Type '. Complete the personal details as prompted. Once SARS has validated the information, a One-Time Pin (OTP) will be sent to the contact details on record. Choose the 2025 tax year and answer yes or no to the questions that will follow. Depending on your answers, your tax return will now be in the correct format and can be retrieved through eFiling in the normal way. According to the revenue service, the "taxpayer's information will be stored and used in the subsequent year of assessment unless the taxpayer's circumstances have changed subsequently". Currently, South Africa has a residence-based tax system, which means residents are, subject to certain exclusions, taxed on their worldwide income, irrespective of where their income is earned. By contrast, non-residents are taxed on their income from a South African source. "Since tax systems differ from country to country, there is a chance that a particular amount could be taxed twice. "This possibility of double taxation is, however, often alleviated by tax relief contained in various Double Taxation Agreements (DTAs). These DTAs are international agreements contracted between countries to deal with potential competing taxing rights against the income of the same taxpayer. Under the provisions of the DTA, the non-resident's remuneration earned in South Africa may not be subject to normal tax in South Africa where specific requirements are met". IOL News Get your news on the go, click here to join the IOL News WhatsApp channel.
