R1 billion has been allocated to the rollout of a Black Industrialists Programme in KwaZulu-Natal (KZN), which was launched by the provincial government today (Friday) in Mayville, Durban.
“This will go a long way towards producing industrialists from the historically excluded communities, which our province so desperately needs,” said KZN MEC for Economic Development, Tourism and Environmental Affairs, Sihle Zikalala.
He added that the province was currently in discussions with the Department of Trade and Industry (dti) regarding the creation of a strategic partnership for the implementation of the programme within the province.
The event was preceded by a visit to the premises of a successful beneficiary of the programme, attended by MEC Zikalala and the minister of Trade and Industry, Rob Davies.
The Black Industrialists Programme is an incentive scheme launched by the dti in 2016 in an effort to grow black-owned businesses and promote the participation of black industrialists in key sectors of the economy as well as support the expansion of their business reach into newer (and largely international) markets.
In February of this year Rural Development and Land Reform minister, Gugile Nkwinti, noted that the programme had already supported 27 entrepreneurs, leveraged R2.5 billion in private sector investment, and created 5235 direct jobs.
More recently, the programme has enabled an all-black female-owned company to open a 3 600-square metre production facility in the Western Cape (assisted by funding from the Industrial Development Corporation).
During the launch of the ninth iteration of the Industrial Policy Action Plan, Davies emphasised the importance of the programme as it is directly involved in the production – and therefore the export– capabilities of the country.
