Migrants Boost SA Economy and Job Creation, Says Standard Bank CEO
News Summary
Standard Bank CEO Sim Tshabalala argues that evidence shows migrants create jobs, pay taxes, and boost economic growth, warning that restricting migration would cost South Africa dearly, citing Brexit's negative impact on the UK economy.
Originally reported by TimesLIVE.
Why It Matters
The debate on migration often focuses on the misconception that foreign nationals take jobs from locals. However, as highlighted by Standard Bank CEO Sim Tshabalala, migrants are not just workers—they are consumers, tenants, entrepreneurs, and taxpayers. They increase demand for goods and services, which in turn creates more jobs for local people. For job seekers, this means that a well-managed migration system can expand opportunities rather than shrink them.
New Visa Reforms Open Doors
South Africa's revised white paper on citizenship and immigration introduces a points-based system for visas and permanent residency, along with new categories for remote work, start-ups, and skilled workers. This is a game-changer for professionals looking to work in South Africa or for South Africans seeking to attract global talent. The Trusted Employer Scheme fast-tracks visa processing for accredited companies, making it easier for businesses to hire senior executives, technical staff, and investors. Job seekers should pay attention to these reforms as they signal a shift towards attracting high-skilled immigrants.
What This Means for Your Career
If you are a skilled professional—whether in tech, finance, engineering, or other fields—the new visa categories could be your pathway to opportunities in South Africa. Conversely, if you are a local job seeker, recognize that migrants often complement your skills rather than compete. They bring diverse experiences and can help grow the economy, leading to more jobs overall. Building cross-cultural competence and collaborative skills will be increasingly valuable in this interconnected job market.
Skills In Demand
From Live Job DatabaseCareer Tip
"If you're a skilled professional, consider applying for the new remote work or start-up visas. Highlight your ability to work across cultures and bring unique expertise. For local job seekers, focus on developing digital and technical skills that are in demand across borders, and consider networking with immigrant communities to learn about entrepreneurial opportunities."
