South Africa economic update: private investment for jobs
Reorienting South Africa’s investment tax incentives to favor agriculture, manufacturing, trade, construction and other services sectors more, could increase job creation and stimulate economic growth in a slow growth environment, according to the latest World Bank economic analysis for the country. The ninth edition of the South Africa economic update, Private Investment for Jobs, analyzes the effectiveness and efficiency of investment tax incentives (ITIs) in various economic sectors. ITIs are one of several policy tools the government has used to accelerate industrial development in the past decade to promote additional investment and job creation against the shortcomings of a commodity-driven growth model, the report notes.