Standard Bank CEO Warns South Africa Against Broad Migration Crackdown, Citing Brexit Lessons
Screenshot By Dorrothy Moyo Standard Bank Group Chief Executive Sim Tshabalala has cautioned South Africa against introducing sweeping restrictions on migration, arguing that evidence suggests migr…
Standard Bank CEO Warns South Africa Against Broad Migration Crackdown, Citing Brexit Lessons25 July 2026ScreenshotBy Dorrothy MoyoStandard Bank Group Chief Executive Sim Tshabalala has cautioned South Africa against introducing sweeping restrictions on migration, arguing that evidence suggests migrants make important contributions to the economy and warning that the country should learn from Britain’s experience following Brexit. Speaking during the Kgalema Motlanthe Foundation Winter Seminar, Tshabalala said migration should be approached through evidence rather than emotion, as South Africa continues to debate immigration policy amid growing anti-immigration demonstrations. Using Britain’s exit from the European Union as an example, Tshabalala argued that tighter restrictions on the movement of people had come at a significant economic cost. According to published reports, he said Brexit had reduced the UK’s gross domestic product by an estimated6% to 8%, cut investment by around13%, and increased unemployment compared with a scenario in which Britain had remained within the European Union. Tshabalala also challenged the perception that migrants simply compete for jobs. “Migrants are not only workers; they are also consumers. They are tenants. They are commuters. They are farmers, they are borrowers, they are traders, and they are entrepreneurs,” he said. He added that migrants contribute to the economy through employment, entrepreneurship and taxation, both directly through income taxes and indirectly through VAT on goods and services. Reports also quoted him as saying there was little evidence to support claims that immigration increases unemployment, arguing instead that migration can have the opposite effect. The remarks come as South Africa continues reviewing its immigration framework. Earlier this year, Cabinet approved a revised White Paper on Citizenship, Immigration and Refugee Protection aimed at consolidating existing legislation into a single legal framework. The debate has intensified amid demonstrations by groups calling for stricter immigration controls. President Cyril Ramaphosa has acknowledged concerns about illegal immigration while stressing that enforcement must remain within the law. He has said South Africa should strengthen border controls and tackle illegal immigration without resorting to xenophobia or unlawful action against foreign nationals. Tshabalala’s intervention places the economic argument at the centre of the migration debate, suggesting that while governments have a responsibility to enforce immigration laws, policies that broadly restrict the movement of people could carry unintended consequences for investment, growth and employment.