Speaking to SABC’s Francis Herd, CDE’s Ann Bernstein pointed out that localisation will not solve our economic challenges but in fact, will deepen them. “We think this is a very bad idea, the impact of localisation will raise costs throughout the economy. Think of Transnet, it has to buy parts for its locomotives domestically but they can’t find the parts domestically and they have to negotiate with Treasury and the DTIC for them to buy these parts elsewhere,” she said.
