DTI Signs MoU Black Industrialists Initiative June 2017
A Memorandum of Understanding is signed between the Department of Economic Development, Tourism and Environmental Affairs, KZN and Department of Trade and Investment ( dti) to launch the Black Industrialists Programme (2 June 2017)
The MoU was signed to affirm the working commitment between dti and Edtea to ensure the establishment of the Supplier Development Incubation Programme in the Richards Bay Industrial Development Zone and Dube Trade Port Special Economic Zone.
KwaZulu-Natal Black Industrialists received a major boost with the signing of a memorandum of understanding (MoU) between the Department of Trade and Industry (dti) and the KwaZulu-Natal Department of Economic Development, Tourism, and Environmental Affairs.
Trade and Industry Minister – Dr Rob Davies said the two departments had committed themselves through the MoU to establish a framework that would promote and ensure meaningful participation in the advancement of the black industrialists in KwaZulu-Natal.
It would also demonstrate a joint effort between the provincial and national governments in advancing the objectives of the black industrialists programme in the economy, he said in the statement.
“Through this memorandum of understanding, the dti is committed to working with the KZN Province 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,” Davies said.
Economic Development, Tourism, and Environmental Affairs -MEC Sihle Zikalala said the Black Industrialists Programme was “alive and kicking” in the province and government aims to grow it from strength to strength, as it provides a strategic avenue for the transformation of the economy in a tangible and practical manner.
He further highlighted that the programme had 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, he concluded.
Minister – Dr Rob Davies concluded that, “to date, 46 projects run by black industrialists had been approved with government agencies and a total of 10 of these approved were from KwaZulu-Natal”.
The Minister said in conclusion, that the support had allowed these black industrialists to undertake investment projects of R3.7 billion and were projected to create more than 8000 direct jobs and close to 12,000 indirect jobs.