https://www.engineeringnews.co.za

DTI-funded black industrialist firm to be launched in KZN

4th July 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

Through its Black Industrialist Scheme (BIS), the Department of Trade and Industry (DTI) has granted R13.5-million in funding to establish a new black industrialist firm in Pinetown, KwaZulu-Natal.

Trade and Industry Deputy Minister Bulelani Magwanishe will officiate the launch of the firm, Microfinish Automotive, on July 7.

As part of the Black Industrialists Policy, the BIS aims to unlock the potential in black industrialists operating in the South African economy through deliberate, targeted and well-defined financial and nonfinancial interventions.

“Microfinish has utilised the DTI’s Export Marketing & Investment Assistance Scheme to exhibit and market the company at numerous international and South African trade fairs, resulting in the addition of new customers in Europe and the Middle East,” noted Magwanishe in a statement.
 
Microfinish is among 46 black industrialist projects that have been approved for joint support from the DTI, development finance institutions and commercial banks through the black industrialists financing forum.
 
“A total of 16 of these approved are from KwaZulu-Natal. These projects will be injecting [an investment of] R3.7-billion into the economy and generating more than 8 000 direct jobs and 12 000 indirect jobs,” said Magwanishe.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Array

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.083 0.133s - 169pq - 4rq
Subscribe Now