Dti, Limpopo to sign black industrialists pact

The Department of Trade and Industry (dti) will sign a memorandum of understanding with the Limpopo provincial government to promote the meaningful participation of black industrialists in the economy.

The MoU will be signed by the dti and the Limpopo Department of Economic Development, Environment and Tourism on Monday, 4 December at the launch of the expansion project of Eastern Trading, a black industrialist company trading as Dursots All Joy, in Modjadjiskloof, Tzaneen.

Trade and Industry Deputy Minister Bulelani Magwanishe said the MoU seeks to ensure the advancement of black industrialists in Limpopo. It also seeks to demonstrate a joint effort between provincial and national government in advancing the objectives of the Black Industrialists Programme in the economy.

Limpopo will be the second province to sign the MoU after KwaZulu-Natal. I am optimistic that this will open doors for black industrialists in Limpopo. The signing of this MOU is a clear indication that national government is committed to working with the provincial government for the advancement of black industrialists in the province, said Deputy Minister Magwanishe on Thursday.

The programme places a particular emphasis on the need to strengthen and increase black participation and enhance entrepreneurial dynamism in the mainstream economy.

The success of the programme will have a spill-over effect on other key developmental objectives of the National Development Plan such as job creation, supplier development, skills transfer and mainly localisation, said Deputy Minister Magwanishe.

The MEC for the Department of Economic Development, Environment and Tourism, Seaparo Sekoati, said the implementation of the MoU will enhance participation of local industrialists in the Special Economic Zones (SEZ) programme.

MEC Sekoati said the MoU will improve participation of the province as a whole in all incentives offered by the dti and the Department of Small Business Development.

Monday's expansion will be officiated by Deputy Minister Magwanishe. It follows the dti's Black Industrialists Scheme (BIS) approving funding for the expansion of Eastern Trading's operations.

BIS is a grant programme that aims to unlock the potential within black industrialists operating in the South African economy through deliberate, targeted and well-defined financial and non-financial support measures.

Source: South African Government News Agency