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BL Premium reports that according to the boss of Rand Merchant Bank, James Formby, SA is facing a skills shortage that, if left unchecked, could hold back any prospects of an economic recovery.
"SA is losing people in their thirties and forties who are qualified and experienced. Yet it is extremely difficult to bring new people into the country, so there is a risk that the skills base is eroding, and we see this as one of the long-term threats to the country," Formby said. Research from both the UN and Stats SA estimates that 21,000 to 23,000 South Africans leave the country annually. Based on a variety of anecdotal evidence, according to Formby, many of these people appear to be highly skilled. But, understanding what is really going on is being hampered by the dearth of accurate and publicly available information, insofar as it relates to both immigration and emigration. Formby highlighted the importance of trying to stem the outflow of technical skills in the engineering and construction industry, crucial under President Cyril Ramaphosa’s plan to launch an infrastructure-led economic recovery. Formby’s remarks echo similar ones made by FirstRand COO Mary Vilakazi last year. She said the "brain drain" had been gradual but noticeable. Both have called on the government to make it easier to allow skilled workers to be employed in SA.
- Read the full original of the report in the above regard by Warren Thompson at BusinessLive (paywall access only)
Get other news reports at the SA Labour News home page