The South African Startup Act Movement (SUA) has received a third round of investment from the UK-SA Tech Hub, following the formation of a coalition government. The UK-SA Tech Hub aims to support high-growth startups and drive policy reform to better support the entrepreneurial ecosystem in South Africa. The SUA has been advocating for visa reforms and policy changes to address the skills shortage and create job opportunities in key sectors like engineering, information technology, healthcare, and finance. The gap between available skills and job requirements in the country could cost R1.6 trillion in unrealized economic potential this year, according to W&RSETA. The SUA is pushing for the establishment of a dedicated Startup Act to address the challenges faced by startups and attract long-term investments like the UK-SA Tech Hub. Key policy reforms include easing exchange control restrictions, addressing IP legislation, and implementing a Startup and Remote Worker Visa to attract international talent. The goal is to create a thriving ecosystem for SMEs and drive economic growth in South Africa. Milisa Mabinza, Director of the UK-SA Tech Hub, emphasizes the importance of supporting SMEs and believes that policy reform is essential for the country’s economic development.
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More foreign investment pouring into South Africa’s tech industry
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