LOCAL black industrialists are set to benefit from a memorandum of understanding (MoU) signed last week between the Department of Trade and Industry (DTI) and the KZN Economic Development, Tourism and Environmental Affairs Department (EDTEA).
The signing took place during the launch of the KZN Black Industrialists Programme in Durban.
According to DTI Minister Rob Davies, the two departments will now establish a framework that will promote and ensure meaningful participation in the advancement of the industrialists.
‘Through this memorandum of understanding, the DTI is committed to working with the the KZN province to ensure the establishment of the supplier development incubation programme at the Dube Trade Port Special Economic Zone and Richards Bay Industrial Development Zone for the BI (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.’
KZN MEC for EDTEA, Sihle Zikalala, said the programme is ‘alive and kicking’ in KZN.
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‘The BI programme in the province will develop and prepare KZN enterprises and entrepreneurs to access national Black Industrialists Programme opportunities, leverage both private and public partnerships for KZN’s BIs, facilitate access to markets as well as ensuring finance and procurement opportunities.’
He added the MoU would also assist in establishing strategic linkages and partnership with key role players, provide black industrialists advocacy and information dissemination and conduct Broad-Based Black Economic Empowerment research.
‘The 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.
To date 46 projects run by black industrialists have been approved with government agencies, 10 of which are from KZN.
The support has allowed the 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.
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