Oct 25, 2013
R817m invested through DTI incubation support programmeBack
Agriculture|Mpumalanga|Natal|Africa|Eskom|PROJECT|Transnet|Africa|South Africa|Automotive|Energy|Manufacturing|Manufacturing Industries|Mining|Technology Transfer|Eastern Cape|Rob Davies|Eastern Cape|Information Communication Technology
© Reuse this
Trade and Industry Minister Dr Rob Davies said in response to a Parliamentary question that the incubation initiative had approved 14 applications in the 2012/13 fiscal period and 16 in the current financial year, resulting in the creation of 19 546 jobs.
“The majority of these approvals have been in the manufacturing and agriculture sectors,” he noted.
Davies added that the first project, approved in November last year – the Sasol ChemCity business incubator, in Sasolburg, which was granted funding of R26.3-million over three years – was launched earlier this month.
The enterprise incubation programme was established with the aim of developing organisations that would absorb South Africa’s vast unskilled labour force, develop new technologies and strengthen the country’s economy.
It further aimed to encourage private sector partnerships with government to foster collaboration between small and big businesses, whereby big businesses would assist small, medium-sized and microenterprises with skills and technology transfer, supplier development and marketing opportunities.
Citing the successes generated by the programme, Davies indicated that four approvals had been granted to Eastern Cape businesses in the information communication technology (ICT), film and agriculture sectors, while three Free State-based enterprises in the ‘multi-sectoral’, jewellery and manufacturing industries had received assistance.
In Gauteng, seven enterprises in the ICT, automotive, energy, agriculture and manufacturing industries were granted approval under the facility, while one KwaZulu-Natal-based clothing enterprise received assistance.
Three manufacturing businesses in Limpopo were approved for assistance under the programme, while four Mpumalanga-based enterprises in the mining, chemicals and agriculture sectors received support funding.
In the Northern Cape, one agricultural enterprise received approval, as did seven Western Cape businesses in the ICT, manufacturing, energy, clothing and agrofarming sectors.
The Minister further indicated in his response that Lonmin, Eskom and Transnet had agreed, in principle, to partner with the DTI to sponsor several incubators.
Edited by: Chanel de Bruyn© Reuse this Comment Guidelines (150 word limit)
Other Economy News
Recent Research Reports
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
This Week's Magazine
South Africa remains an important manufacturing and export platform for Ford Motor Company, says executive chairperson Bill Ford. However, he adds that other countries on the continent are “becoming interesting”, and that the US carmaker is casting its net wider for...
Germany’s Max-Planck-Society (MPG) and the Max-Planck-Institute for Radio Astronomy (MPlfR) are investing €11-million (about R150-million) into South Africa’s MeerKAT radio telescope array programme. The money will be used to design, build and install S-band radio...
Infrastructure spend in sub-Saharan Africa will grow from $70-billion in 2013 to $180-billion by 2025, says PwC capital projects and infrastructure Africa leader Jonathan Cawood. This is one of the findings of PwC’s Capital Projects & Infrastructure report on East...
Private-owned defence and aerospace manufacturer Paramount Group and the Ichikowitz Family Foundation unveiled its Anti-Poaching Skills and K9 Training Academy in Magaliesburg last month.
The inclusion of Bluetooth to provide sub-three meter accuracy and heightened functionality for users is one of the ways to change existing wireless networks into engagement networks. An engagement network differs from common wireless networks in that it enables the...