Page 36

IN OTHER NEWS

Compiled by: Dorris Simpson

SA best for debt management

per is testament to the success the country continues to

South Africa claimed a brief moment in the limelight re-

enjoy in global capital markets.

cently when the country received recognition for excel-

Julies said South Africa’s deep capital market system,

lence at a ceremony that was part of the International

credible judiciary and strong banking system built con-

Monetary Fund (IMF) World Bank annual meetings in

fidence in investors.

Washington, USA.

“This is partly the results of the regular engagements that

South Africa was named the best country for debt man-

investors have with senior policymakers, which ensures

agement/sovereign bond issuance in sub-Saharan Africa

that there is constant communication on key policy issues

by Emerging Markets Newspaper, an affiliate of the IMF/

which are pertinent to investors.

World Bank Annual Meetings.

“The country is not only recognised for the ‘quality of the

“This comes just after the World Bank also acknowledged

deal’ (price and duration) but also National Treasury’s pro-

South Africa's excellence in debt dynamics/composition,”

fessionalism in debt management operations (operational,

said National Treasury.

and sustainable composition of the sovereign debt portfo-

After receiving the award in Washington, Deputy Direc-

lio), a continuance of its debt management commitment,

tor-General of Assets and Liability Management at National

given challenging political and economic environment

Treasury, Anthony Julies, said the endorsement by the pa-

globally and domestically,” he added.

Park, as one of the globally competitive locations within 3M, he added. The investment will create jobs for an additional 75 skilled individuals, with more opportunities arising across the company due to the extension of 3M’s domestic operations. Managing Director of 3M South Africa, Ismail Mapara, said the company believed that the investment in manufacturing and the creation of new jobs further cemented its history in South Africa and commitment to the same growth and skills upliftment initiatives that the Department of Trade and Industry promotes. “Our US$500 000 automotive line investment offers 3M customers the high quality products and service they expect, Trade and Industry Minister Rob Davies.

3M makes massive investment in SA

but with even more agility now that we are able to manufacture our film products for the industry with only a ‘to-scale’ drawing of the vehicle,” said Mapara.

Trade and Industry Minister Rob Davies has welcomed 3M’s

He said the fully automated scourer production line com-

R120 million investment that will expand the company’s op-

prised equipment tailor-made for the South African market

erations in South Africa.

and was built within the country with the support of local

“Such investment is important and demonstrates the con-

and international 3M engineers.

fidence that 3M has in the long-term future of South Africa

“The US$800 000 scourer production technology ranks as

as a regional manufacturing hub,” said Minister Davies of the

among the best in the world, and is now the fastest line in

science and technology company’s investment.

the 3M network.”

The investment is a major boost for the manufacturing sec-

Mapara said to ensure both operational safety and efficiency,

tor, as the enhancement is designed to improve productivity

3M was employing experienced individuals from within the

and will position the Maple Park plant in Pamona, Kempton

industry, while developing skills among new employees.

34

Public Sector Manager • December 2016 / January 2017

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