Black industrialists to go to Mozambique with ministry to help develop relations
The Department of Trade and Industry plans to take a group of black industrialists on a trip to Mozambique to help them develop business relations while also boosting trade between the two countries.
The trade mission in March forms part of the department's implementation of its black industrialists programme to promote sustainable economic growth, transformation and industrialisation through the financial and nonfinancial support of black-owned entities in the manufacturing sector.
The beneficiaries of the programme receive access to capital and markets, and nonfinancial support. The department aims to create 100 black industrialists by the end of the 2017-18 fiscal year.
Companies in agro-processing, economic infrastructure (general engineering services, railway, and ports) and energy sectors will be preferred for the trade mission to Mozambique, the department said in a statement Friday.
Trade and Industry Minister Rob Davies said the objective of the mission was "to increase black industrialists’ trade with businesses in Mozambique".
He added: "This is an ideal platform for the industrialists who would like to export value-added products and services. I am encouraging the industrialists to take part in this mission and go form partnerships with their Mozambican counterparts for the exploitation of business opportunities in the Mozambican economy."
SA is Mozambique's main trade partner, with bilateral trade amounting to more than R42bn in 2016.