The government has been talking about developing a breed of black industrialists, and China’s commitment could be just the right tonic.
China has pledged a record $50bn (R660bn) towards industrialisation projects in South Africa. This augurs well with the Department of Trade and Industry’s (DTI) initiative to create a class of black industrialists.
Announcing the assistance in Pretoria, Zhang Xiangchen, vice minister of commerce of China, and Lionel October, director-general of the Department of Trade and Industry (the dti), said China will also provide 50 technical experts in building and upgrading of industrial parks, building of new power plants, 40 000 training opportunities in different sectors and 200 000 industrial managers to train and develop local industrial managers, according to a dti statement.
In addition, Xiangchen said there are several new measures that the Chinese government is finalising to further promote industrialisation and development of the African continent as a whole.
Shedding more light, Xiangchen said: “China-Africa industrialisation partnerships will be at the forefront of any development in the continent followed by agricultural activities.”
“China will also increase investments in Africa especially in the Special Economic Zones and provide training in those sectors.”
