GQ chats with Proudly South African CEO Eustace Mashimbye
Localisation is more than just a strategy, it’s a solution to drive economic recovery, job creation, and long-term sustainability in South Africa. With SMEs contributing over 98% of formal businesses and employing around 50-60% of the workforce, supporting local industries is essential for building a resilient economy.
This year’s Buy Local Summit & Expo, taking place on 17 & 18 March 2025 at the Sandton Convention Centre in Johannesburg, will explore how localisation can safeguard key sectors, strengthen supply chains, and create opportunities for sustainable growth.
GQ caught up with Proudly South African CEO Eustace Mashimbye to discuss the upcoming 2025 Buy Local Summit & Expo.
GQ: What is the focus of this year's Buy Local Summit & Expo?
Eustace Mashimbye: This year's summit centres on "Building a Resilient Economy through Localisation." We aim to highlight how local procurement and support for small and medium-sized enterprises (SMEs) can fortify South Africa's economic framework.
One of the biggest gaps we’ve identified is that many consumers don’t realise the real impact of their spending habits. Building a resilient economy means creating a sustainable structure that can withstand economic challenges and remain strong despite global pressures.
GQ: What role does consumer behaviour play in localisation?
Eustace Mashimbye: Consumer choices significantly impact localisation efforts. By opting for locally produced goods, consumers help sustain local businesses and contribute to job creation. This collective effort is essential for building a resilient and self-sufficient economy.
Consumer choices are key to localisation efforts. When consumers choose local products, they support businesses, create jobs, and drive economic growth. Accountability is central to this success:
GQ: What can attendees expect from the summit?
Eustace Mashimbye: Attendees will experience some of the best locally manufactured goods and reliable service providers. They will also gain insights from thought leaders and decision-makers on how the lack of support towards local businesses culminates into the three threat challenges of inequality, poverty, and unemployment.
Consumers will get to hear from members of the Proudly SA campaign just how much their daily purchasing decisions impact their livelihoods, communities, and the economy. The Buy Local campaign has a few surprises in store for attendees, which they’ll only get to experience when they join us at the free-to-attend annual Buy Local Summit and Expo.
By embracing localisation, we can strengthen our economy, create jobs, and ensure long-term growth for future generations.
GQ: The timing of this year’s Buy Local Summit & Expo coincides with the imposition of trade tariffs on several countries by US President Donald Trump and, potentially, to South Africa. Do you see this call to action for local procurement by both the public and private sector helping to mitigate against the potential adverse economic impact of these tariffs, in particular, the possible termination of the AGOA agreement in September this year?
Eustace Mashimbye: We are under no illusion that the Buy Local Summit & Expo is a silver bullet that will magically fix our economy, but we believe that a significant increase in local procurement of goods has ripple effects. When we support our local enterprises, they can grow and scale up their operations, thereby contributing more to the fiscus. In turn, they can employ more people, meaningfully helping to combat the triple challenges of unemployment, poverty, and inequality, which lead to many social ills.
At Proudly SA, we believe that our collective purchasing power as the public sector, the private sector and consumers can make a substantial impact if our resources are funnelled towards local procurement. During these uncertain times, all stakeholders should be deliberate in their spending and be mindful that every rand spent on buying local goods and services is a rand that reinforces us against any imminent headwinds, and it is money that contributes directly to the creation of much-needed employment opportunities for South Africans.
GQ: Why are South Africans not procuring as much locally as they should?
Eustace Mashimbye: This is not entirely true; research has shown that South Africans do procure locally. For example, a 2022 NielsenIQ study found that 55% of South African consumers prefer purchasing locally made products, underscoring a strong consumer inclination towards supporting local enterprises.
PwC’s Voice of the Consumer Survey 2024 highlights that 44% of South Africans are willing to pay more for local products, reinforcing demand for domestic industries. This reduces vulnerability to global disruptions, drives innovation, and ensures wealth circulates within the local economy, fostering long-term growth.
Despite the encouraging picture that showcases a growing preference for local procurement, we believe that there is room to grow localisation. Several factors stifle local procurement, one of them being the increased globalisation, the growth of e-commerce platforms and technological innovations which has widened consumer’s purchasing options and made imports more readily accessible.
Having said that, we have a lot of exceptional home-grown enterprises that manufacture and sell quality goods and offer outstanding service. Some of these companies are blazing a trail on the international stage. As Proudly South African, we are calling on South Africans to start making considered purchasing decisions and increase their local spending to deserving enterprises that are showing an unwavering commitment to quality and service excellence.
GQ: Some people may see the buy local call as an antithesis of e-commerce conglomerates like Amazon, Shein and Temu in SA?
Eustace Mashimbye: There is nothing wrong or untoward about being patriotic and supporting efforts to grow the local economy through localised procurement. Today’s conglomerates were once small and medium-sized companies, but they managed to scale up thanks to the support they received from the locals. We are living in an increasingly digital world where we can connect at the touch of a button regardless of location.
This is our reality. The buy local campaign has nothing to do with e-commerce merchants. The campaign has been running for the last 14 years. Through this campaign, we are simply reminding South Africans that charity begins at home and that through mundane things such as purchasing decisions, we can be part of the solution and contribute positively to the socio-economic challenges our society is facing.
We need to be mindful that small and medium-sized businesses are the backbone of the economy and provide a lifeline to millions of people. According to the findings of research by FinScope MSME, there are approximately 3 million medium, small and micro-entrepreneurs in South Africa employing around 13.4 million people. More than 2.5 million micro-enterprises make up the sector, with 72% operating informally.
The Department of Small Business Development estimates that small and medium-sized businesses contribute 40% to the Gross Domestic Product (GDP). In addition, the National Development Plan (NDP) envisages that 90% of the 11 million jobs will be generated by small enterprises in 2030. In the South African context, support for SMMEs also constitutes a major lever in the inclusive transformation of the economy.
We envisage this important sector of the economy to be the biggest beneficiary of the Buy Local campaign. This is understandable, considering that in the South African context, support for SMMEs also constitutes a major lever in the inclusive transformation of the economy.
To secure your spot, register now here.