Writing in only the second edition this year of the Armscor newsletter “Inside Out” chief executive Solomzi Mbada expresses optimism the South African defence industry will come out of the difficult COVID-19 times “stronger, determined, focused and transformed”.
He points to continued declines in defence spending and reduced budget allocations “playing a role in how we can rebuild our industry going forward”.
“We are expected to come up with new ways of doing business. The time is now than ever before to diversify our offerings and tap into new markets. Collaborations, innovation and strategic partnerships are a way to go in order to sustain the defence industry.
“The issues of budget cuts and decline in defence spending were highlighted during the Joint Standing Committee on Defence. We are positive that through continued engagements at the highest level there will be a positive outcome.
“As Armscor we will continue to review our strategies in order to get through this challenging times. We remain committed to serve the needs of our clients in-time and on-time. We are very cognisant that for us to remain the centre of technical excellence for defence acquisition, we need to evolve in order to remain relevant in forever changing defence landscape. We are encouraged by the partnerships we have with other defence partners and will continue to engage further (sic),” he informs newsletter recipients and readers.