The South African Business Chamber of Commerce Singapore was officially launched on 10 September 2019, by the South African business community living in Singapore. The objective of the Chamber is to promote trade, investment, finance and industry between South Africa and Singapore.
Membership of the Chamber is open to all South African and Singaporean business professionals and institutions, on an individual and corporate basis. It is important for the business community to come together to support the Chamber initiatives, to strengthen trade and economic relations between the two countries. Members of the Chamber have the opportunity to provide input, and exchange views and information regarding economic and commercial issues related to South Africa and Singapore.
At the launch, the High Commissioner of South Africa to Singapore, HE Modise Mokitlane, announced that the Chamber will provide a natural home in Singapore for South African entrants by assisting South African business entities and individuals who are already established or wish to be established in business in Singapore. He said that the Chamber will assist South African business entities and individuals who intend to sell or invest in Singapore, and Singapore business entities and individuals who intend to sell or invest in South Africa.
With recent reported economic slowdown globally and hard economic times in South Africa, South Africa managed to grow its economy by 3.2% in the second quarter of 2019. This emphasises the important role the Chamber has to play in advancing trade and investment relations between South African and Singaporean companies and individuals.
The Chamber felt honoured to be able to attract the attention of Standard Chartered Bank, and Ms Razia Khan, Chief Economist: Africa and Middle East, who made an exceptional keynote address on South Africa’s economic landscape. She noted that despite economic challenges, there were a number of positive developments in South Africa and these would assist the economy in returning to a growth course.