https://www.engineeringnews.co.za

The Black Industrialist Programme: It’s Benefits And The Vital Impact It Will Have On The Economy

19th June 2017

     

Font size: - +

This article has been supplied as a media statement and is not written by Creamer Media. It may be available only for a limited time on this website.

The Black Industrialist Programme  (0.03 MB)

The Black Industrialist Programme (BIP) is a key component of the Department of Trade and Industry’s (the dti) Industrial Policy Action Plan (IPAP).   It has been developed as a practical tool to achieve the demographic transformation of economic power and spatial concentration within the overall industrial strategy, outlined in IPAP and the objectives of national development as articulated in the NDP.
 
The level of empowerment in manufacturing remains low in South Africa and there is a need to see the promotion of “hands-on” black business, as opposed to passive shareholding, if we are to see ‘South Africa's Vision 2030’ of seeking to eradicate poverty and reduce inequality, become a reality. In this context, the State has a moral obligation to creatively harness national resources towards the resolution of the historical injustice of racial, gender and class exclusion in all spheres of life.
 
The main focus of BIP is directed towards manufacturing, industrialisation and economic growth, with the purpose of enhancing these elements, through inclusion of the previously disadvantaged black population into the mainstream economy. Being a key driver of job creation, it is imperative that the country invests in and enables a new generation of black industrialists to help repair South Africa’s concerning unemployment figures.
 
The BIP identification process looks at key elements such as the significant influence in an enterprise or industry and the successful candidates must possess control of an enterprise, through shareholding in the capacity of a board or executive management. The going concern would be required to produce goods or services that present a significant solution to a need in the industry. 
 
Amongst the many benefits, the BIP will enhance black manufacturing enterprises by equipping them with the necessary equity to gain access to the private banking sector and   finance to enable expansion. Access to markets has for some time, prevented black entrants into the industrial sector because of their limited marketing capacity and market research, which the BIP will address, to ensure these enterprises have the capacity to explore these niche and overcrowded markets.  The BIP will assist black industrialists to gain entry into the capital markets and aid growth in their respective sectors by forming stakeholder relationships with corporations, banks, development finance institutions and state-owned enterprises.
 
As with any business, the key to operating it successfully, with the aim of keeping it sustainable, is access to relevant skills and industry-specific knowledge. The dti aims to remedy this by training business owners and workers in the hope to build capacity that will see these black enterprises thrive.

This significant intervention needs key stakeholders to collaborate in order to see the programme move forward, empowering the black industrial enterprises to grow to their full potential. The progress of the BIP was addressed at the Manufacturing Indaba in 2016 and the discussion will continue at the 2017 Manufacturing Indaba.
 

To watch Creamer Media's latest video reports, click here
 

Edited by Creamer Media Reporter

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.087 0.146s - 158pq - 2rq
Subscribe Now