Johannesburg - The focus for the newly-launched Black Industrialists Programme is mainly geared towards manufacturing, industrialisation and inclusive economic growth, the Department of Trade (DTI) and Industry said on Wednesday.
This was the primary message communicated by the Minister of Trade and Industry Dr Rob Davies, Deputy Minister Mzwandile Masina and the CEO of the National Empowerment Fund Philisiwe Mthethwa, during the launch of the Black Industrialists Policy in Pretoria on Wednesday.
In a statement on Wednesday, the dti said the policy and the programme were a key part of government's broad industrialisation initiatives to expand the industrial base and ensure the participation of black industrialists in manufacturing activities and the economy.
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Addressing stakeholders at the launch, Davies said the new programme was designed to create a single forum to provide black industrialists with financial aid, non-financial support, market access and advice for those who were already trading in the manufacturing space.
“The policy document and guidelines say you must have a high level of potential in the manufacturing sector and this will help us identify the best and take them forward in the manufacturing space. We are not only looking for manufacturers but champions in the industry who are willing to take risks and transform the economy,” Davies said in a statement.
The Black Industrialists Scheme offers a cost-sharing grant, ranging from 30 percent to 50 percent, 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.
Davies acknowledged the programme was not designed to solve all problems or entertain passive shareholders, but it was a step towards addressing and empowering black people in all sectors, specifically in the manufacturing sector.
“Manufacturing is one of the least empowered sectors, and that is why we came up with Black Industrialists Policy to increase a number of black-led management and involvement in order for them to control the value chains and encourage others to come forward,” Davies added.
Masina said the programme was not only about giving out state money, but making sure that there were market opportunities for black industrialists.
“We are looking at the entire value-chain to ensure that the programme is successful and well-administered. We may not be able to help all businesses out there, but we will be able to contribute to the economy through this programme,” Masina said.
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