Seifsa ind­aba seeks so­lu­tions to job losses

The Star Early Edition - - BUSINESS REPORT -

THE SOUTH­ERN African Met­als and En­gi­neer­ing Ind­aba 2017 would be an op­por­tu­nity for stake­hold­ers to come up with work­able so­lu­tions to stop the jobs blood­bath in the met­als and en­gi­neer­ing sec­tor, ac­cord­ing to Steel and En­gi­neer­ing In­dus­tries Fed­er­a­tion of South­ern Africa (Seifsa) chief ex­ec­u­tive, Kaizer Ny­at­sumba. The met­als and en­gi­neer­ing sec­tor was among the sec­tors shed­ding jobs in the thou­sands. In the pe­riod be­tween July 2014 and June this year, 25 000 peo­ple lost jobs in the sec­tor. “The loss of jobs in this sec­tor is a wor­ry­ing trend and should be of great con­cern to all of us. The sec­tor cur­rently faces pres­sure from dif­fer­ent fronts, in­clud­ing weak eco­nomic growth, low busi­ness and con­sumer con­fi­dence, in­creased com­pe­ti­tion from im­ports, low pro­duc­tiv­ity and fall­ing ex­port fig­ures,” Ny­at­sumba said. In this year’s first quar­ter, met­als and en­gi­neer­ing ex­ports de­clined by 8.3 per­cent com­pared to the fourth quar­ter of last year. “The un­favourable mar­ket con­di­tions have forced a num­ber of com­pa­nies, many of which are our mem­bers, ei­ther to scale down or to close down,” he pointed out. – Sizwe Dlamini

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