DTI signs R1bn empowerment deal in KZN
Trade and Industry Minister Rob Davies has signed a R1 billion co-operation agreement with the KwaZulu-Natal government.
DURBAN - Trade and Industry Minister Rob Davies has signed a R1 billion cooperation agreement with the KwaZulu-Natal government to promote black industrialists and assist them to become more competitive.
He says 10 of the 45 approved projects will come from the province, with at least 8,000 jobs being created.
Davies visited one of the beneficiaries of the programme on Friday.
Mthembu Tissue Converting owner, Thembinkosi Mthembu, says he has been in the business since the 1980s and is excited about the R47 million injection from the department.
“This will give us the leverage to compete with those big businesses.”
Minister Rob Davies says the black industrialist programme also helps deal with the protection of small entities.
“Now we will look at not only abusive dominance but the levels of concentration.”
Provincial Economic Development MEC Sihle Zikalala says the success of businesses such as Mthembu’s are a testament to why the government continues to call for radical economic transformation.
(Edited by Shimoney Regter)