Business has welcomed the Department of Trade and Industry’s Black Industrialists Programme aimed at expanding the industrial base.
Black Business Council Vice President Sandile Zungu said the business fraternity fully supports the programme, which was officially launched at The New Age business briefing on Wednesday.
Zungu said the first step business will take is to internalise the whole programme and give guidance to entrepreneurs who want to access the scheme.
He said many black firms must benefit from the policy and must be encouraged to expand the country’s industrial base.
Speaking at the launch, Trade and Industry Minister Rob Davies said the focus of the newly-launched programme is mainly geared towards manufacturing, industrialisation and inclusive economic growth.
He said the programme is designed to create a single forum to provide black industrialists with financial aid, non-financial support, market access and advice for those who are already trading in the manufacturing space.
Minister Davies acknowledged that the programme was not designed to solve all problems or entertain passive shareholders. He said it is a step towards addressing and empowering black people in all sectors, specifically manufacturing.
“Manufacturing is one of the least empowered sectors and that is why we came up with the Black Industrialists Policy to increase the volume of black management and involvement in order for them to control the value chains and encourage others to come forward,” he said.
The Black Industrialists Programme offers a cost-sharing grant ranging from 30% to 50% to approved entities, to a maximum of R50 million. The quantum of the grant will depend on the level of black ownership and management control, the economic benefit of the project and the project value.
Potential black industrialists can visit www.thedti.gov.za to access the policy and application process.
