I am honoured to be standing here being part of this inspiring programme of welcoming the beneficiaries of the Nal’ithemba Enterprise Development Programme.
On behalf of the Province of KwaZulu - Natal and our Shareholder, MEC Siboniso Duma, Board Members, RBIDZ Executive Management, we are excited to host you in this gathering.
As we all know that a prosperous country is the one that ensures the development of the society and integration of SMMEs to programmes that will make them part of the developing country.
In the main the Agenda of our country that is geared towards inclusive economic growth is the one aligned to creation of the vibrant sector, entrepreneurship, and integration of SMMEs.
It is a fact that SMMEs are regarded as principal driving forces in the economic development by their nature of being able to stimulate private ownership, entrepreneurial skills, and creation of employment.
As the organ of State, we are therefore mandated to ensure that we execute our mandate bearing in mind that our society is part of the growth and development and that can only be achieved through mentorship, skilling, opening of opportunities as well as ensuring that our communities participate in the wealth generation and inclusive transformation activities.
It is therefore correct to say that we also have to create a supportive environment for the growth of small and medium enterprises (SMMEs) and thriving societies.
In so doing we should be well aware that the efforts within the context of entrepreneurship ecosystem have seen high growth in the world and these include; development initiatives such as incubation that are regarded as effective tools for promoting participation, inclusivity, entrepreneurship and supporting emerging businesses as well as enhancing economic diversification.
Programme Director, today we are gathered here to set our vision forward for the call aimed towards the ecosystem’s growth and diversification. We are here because we are welcoming beneficiaries of our newly implemented RBIDZ Nal’ithemba Enterprise Development Programme.
This incubation programme seeks to answer to the call of focused transformation and inclusion of SMMEs and Local Enterprises in the bigger space of the economy and industrial opportunities through value chain linkages and other value adding mechanisms.
The greater commitment of this programme is in its name – Nal’ithemba which simple means ‘Bringing Hope’.
Nurturing emerging businesses through incubation guarantees future growth and assists in positioning them to resource and market access as well as various business skills.
We therefore believe that the Nal’ithemba programme will spark economic growth in the future.
I must highlight that Nal’ithemba is not the only RBIDZ’s programme aimed at inclusivity and development; however, it is part of various other initiatives within the RBIDZ aimed at answering to the call of action to drive the Transformation Agenda forward.
Specifically, Nal’ithemba is focusing on specific RBIDZ sectors of the economy such as Agro-processing, Logistics, Chemicals, Metals Beneficiation, and ICT.
TRANSFORMATION AGENDA AND JOB CREATION
Ladies and Gentlemen, our government leaders always point out that the realization of economic transformation and job creation depends strongly on sound strategies. Owing to this the Special Economic Zones are vehicles through which economic transformation and job creation objectives will be achieved for eradication of poverty.
Not only should programmes focus solely on mentorship and training, however targeting vibrant sectors and opportunistic markets are also an equation for success.
In this case Nal’ithemba is sector focused that has identified eleven (11) beneficiaries that will participate in phased Masterclass Training paying attention to different areas of learning, workshops with financing partners and Sector Specific training.
NAL’ITHEMBA ROLL- OUT BUDGET
The RBIDZ has committed close to R6 million (six- million), budget for the 3-year roll-out of this programme.
Apart from the expected impact of this programme, the advantages are that the SMMEs in general ensure a platform for competition and increased opportunities for broad-based black economic empowerment.
Development of the emerging businesses and inclusivity of our local people and content is our priority. There is no development without local participation in economic development. We want our people to learn skills from new technologies and innovation.
RBIDZ BBBEE AWARD: COMMITMENT TO TRANSFORMATION AGENDA
Attesting to our commitment of transformation, the RBIDZ was recently recognized by the Department of Economic Development, Tourism and Environmental Affairs, MEC, Siboniso Duma for its role in complying with the BBBEE principles; and was awarded with the Most Improved BBBEE Compliant Award. This follows an independent BBBEE verification process which was conducted in the 2021/22 fiscal year, with the outcome placing the RBIDZ Special Economic Zone the BBBEE Level 3 contributor.
Importantly, the benefit of attaining this BBBEE Award demonstrates the entity’s’ commitment to making a positive contribution in the country as well as being considerable towards growth prospects and transformation.
COMPANY’S CLEAN AUDIT OPINION
I am pleased to witness the achievements that the RBIDZ has attained, these including Clean Audit Opinions for 3 consecutive years under this RBIDZ Executive leadership. This achievement is also a testimony of compliance with principles of Good Governance.
INVESTMENT PROMOTIONS AND ATTRACTION AND MANDATE OF THE RBIDZ
The Richards Bay IDZ is tasked with a huge responsibility of driving industrial activities aimed at advancing interests associated with socio-economic development through domestic and foreign direct investments. These strides are guided by the company’s economic focus sectors including Energy among others.
And again, we are committed in driving sectors that are labour absorbent and that will ensure uninterrupted industrialisation and sustained energy supply.
INVESTMENT VALUE – OPERATIONAL AND PIPELINE
Operational investments in both our estates as we closed the 2022 – 2023 financial year on the 31st of March 2023, were valued at R1.8 billion. There is admirable growth of R1. 27 billion against the investment value of R562 million achieved on the 31st of March 2022.
The operational investors have contributed immensely to job creation during construction and operations, as well as other value chain opportunities including procurement and supply.
Moreover, as we closed the 2022 / 2023 Financial Year, as the Board we had approved over R9 billion investments in our pipeline; and with these investors are busy facilitating compliance for their establishments here in the Zone.
ENERGY CRISIS IN THE COUNTRY
It is deeply concerning and not disputed that the country is facing detrimental energy crisis, that continues to push back our economy adding to high number of unemployment and poverty. As the company we continue to be resolute in our endeavours focusing on energy solutions for sustainable energy supply.
Thriving industrialisation and livelihood of businesses and society depends on energy security and supply. It is therefore our commitment to be part of solution finding interventions.
ENERGY AWARD RECOGNITION
I want to commend the leadership, mainly the CEO for being recognised by the African Energy Leadership Organisation in the United States of America – Houston, that recently awarded him with the African Energy Leadership Commendation Award.
The recognition follows the remarkable strides and various factors such as the wealth of experience and pivotal role played by the CEO, Mr. Zulu in the development of energy sector, as well as his commitment to excellence, and innovation in leading the company’s efforts towards stimulating economic growth, creating job opportunities in strategic sectors and skills development.
The recognition and Award further acknowledge the company’s vision to be the energy hub and vibrant industrial destination.
We want to see various sectors of the economy thrive in this province and we see energy infrastructure programmes as stairways for massive job creation and stability.
KwaZulu- Natal Government has set an ambitious target of increasing total employment to 4.5 million in 2035. This means that a collective annual growth rate of 5.43% is required in order to achieve the job creation targets.
CONCLUSION
The Nal’ithemba Enterprise Development Programme aims to see progress in the targeted period of three (3) years during its roll-out plan and beyond. The training journey of our beneficiaries commence on the 1st of June 2023.
The implementation of this programme cannot succeed without similar vision from partners such as the City of uMhlathuze who have also been part of all processes leading to implementation and further providing the facility where this project operates being at Empangeni SMME One- Stop – Shop.
Again, this is testimony that the success of this programme and development of emerging businesses is a collective effort and responsibility of everyone.
As I am about to sit down; I wish to acknowledge the support of our Shareholder, MEC for Economic Development, Tourism and Environmental Affairs, Mr. Siboniso Duma and all spheres of government and municipalities.
I wish to also acknowledge and commend all Board members, RBIDZ leadership and all categories of staff for their commitment to sustaining the company as well as our Investors who continue to show confidence in our capabilities.
We cannot over emphasize the great prospects that await the growth of this Special Economic Zone and our people, and we want to ensure that we leave no one behind.
END!
