Attractive Quote by Patrice Motsepe
“The export of oil, the export of minerals, will for many decades continue to be a critical part for the growth of African economies. The emphasis is on diversification. We have for many years - not just in South Africa but in many parts of the continent - spoken about beneficiation. And I think part of the secret, in relation to beneficiation, is you have got to make it attractive, profitable for the private sector - and it will take off. You may have to look at mechanisms like tax concessions... You will not have to worry about beneficiation if it makes commercial sense.”
About This Quote
Source Speech: African Economic Forum, 2022
Reliance on raw material exports must shift toward value‑added processing to sustain growth; incentives make private investment profitable.
In simple terms: Diversify economies by processing resources locally.
Key Takeaway
Create profitable incentives for local processing.
Themes
economics
development
resource management
Mood
optimistic
strategic
Type
policy
economic
When to use this quote
- government policy
- private investment decisions
- industrial strategy
Key Concepts
beneficiation
private sector incentives
tax policy
Questions to Reflect On
- How can governments ensure incentives are attractive enough?
- What risks exist if diversification stalls?
A Different Perspective
If incentives are insufficient, private firms may still avoid beneficiation.
