Standard Bank Group CEO Sim Tshabalala has warned that South Africa should heed the UK's Brexit experience, highlighting the economic costs of migration restrictions.

Speaking at the Kgalema Motlanthe Foundation winter seminar, Tshabalala cited Brexit's impact, noting a 6%-8% GDP decline, 13% investment reduction, and 4% unemployment rise in the UK.

He argued that South Africa's immigration reforms, including a points-based visa system and new categories for remote work and skilled workers, are crucial to avoid similar economic pitfalls.

Tshabalala emphasized migrants' multifaceted role as consumers, entrepreneurs, and taxpayers, countering claims that they strain public resources.The discussion coincided with South Africa's overhaul of immigration laws, which retain commitments to the 1951 Refugee Convention.

Other speakers, including former President Kgalema Motlanthe and MTN Chair Mcebisi Jonas, linked xenophobic violence to governance failures and called for inclusive labor strategies.The article underscores the economic rationale for managed migration, contrasting it with anti-immigrant sentiments fueling unrest.