Black industrialists in KwaZulu-Natal have received a boost from the signing of a Memorandum of Understanding (MoU) between the Department of Trade and Industry and the KwaZulu-Natal Economic Development, Tourism and Environmental Affairs Department.
Through the memorandum, the dti and the KZN department have committed themselves to establish a framework that will promote and ensure meaningful participation in the advancement of black industrialists in the KwaZulu-Natal province.
“Through this memorandum of understanding, the dti is committed to working with KwaZulu-Natal to ensure the establishment of the Supplier Development Incubation Programme in the Dube Trade Port Special Economic Zone and Richards Bay Industrial Development Zone for the black industrialists programme.
“Furthermore, the dti will, in collaboration with the province, identify and implement joint programmes to accelerate the implementation of economic transformation policies and compliance, especially to empower women, youth and people with disabilities,” said Minister Davies.
Speaking at the launch of the KwaZulu-Natal Black Industrialists Programme in Durban on Friday 2 June, Minister Davies said the MoU demonstrates a joint effort between the provincial and national governments in advancing the objectives of the Black Industrialists Programme in the economy.
KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs, Sihle Zikalala, said black industrialists in the province will benefit from the MoU.
“The Black Industrialists programme in the province will develop and prepare KwaZulu-Natal enterprises and entrepreneurs to access the national Black Industrialists Programme opportunities, leverage both private and public partnerships for KwaZulu-Natal’s black industrialists, facilitate access to markets as well as ensuring finance and procurement opportunities for black industrialists,” said MEC Zikalala.
He added that the MoU will also assist in establishing strategic linkages and partnerships with key role players; provide black industrialists advocacy and information dissemination, conduct Broad-Based Black Economic Empowerment research and monitoring and evaluation.
Government has embarked on a number of developmental policies that form the basis for addressing unemployment, poverty and equality to promote inclusivity and shared economic growth.
The Black Industrialists Policy has been identified as an instrument to enhance transformation in the economy and ensure meaningful participation of black people in the mainstream of the South African economy.
To date, 46 projects run by black industrialists have been approved, with government agencies. A total of 10 of these approved are from KwaZulu-Natal. The support has allowed these black industrialists to undertake investment projects of R3.7 billion and is projected to create more than 8 000 direct jobs and close to 12 000 indirect jobs.