Government gives black industrialist programme a boost
Late in 2018, trade and industry minister Rob Davies said the slowdown in manufacturing was not going to hamper the funding scheme
The department of trade and industry is fast-tracking the black industrialist programme, saying economic growth and transformation relies on it. According to the department, the programme aims to unlock the potential of black industrialist companies in key sectors of the economy through deliberate, targeted and well-defined financial and nonfinancial interventions. This week, the department facilitated the opening of an R81m factory belonging to Africa Bespoke Apparel (ABA), a black industrialists programme beneficiary firm based in Verulam, KwaZulu-Natal. Bulelani Magwanishe, the trade and industry deputy minister, said that at the heart of the government’s policy intervention was the advancement of the industrial sector to alleviate poverty, inequality and unemployment. “With black industrialists like Africa Bespoke Apparel, I am confident that we are close enough to achieving our objectives,” said Magwanishe. He welcomed Africa Bespoke Apparel’s planned training academy saying i...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.