https://www.engineeringnews.co.za
Automotive|Business|Casting|Financial|Manufacturing|PROJECT|Sustainable|Training|Equipment|Manufacturing |Environmental
Automotive|Business|Casting|Financial|Manufacturing|PROJECT|Sustainable|Training|Equipment|Manufacturing |Environmental
automotive|business|casting|financial|manufacturing|project|sustainable|training|equipment|manufacturing-industry-term|environmental

VWSA invests more than R70m in black supplier development

8th April 2019

By: Irma Venter

Creamer Media Senior Deputy Editor

     

Font size: - +

To date, R70.9-million of the R86-million invested by Volkswagen Group South Africa (VWSA) in the Volkswagen Broad-based Black Economic Empowerment (B-BBEE) Initiatives Trust has been committed to the development of black-owned component suppliers.

The aim of the trust is to increase the number of quality black-owned suppliers in the automotive sector value chain by providing financial assistance and non-financial assistance, such as business development growth and access to markets through supplier development relationships.

The advice and support provided by the trust is offered to qualifying black-owned suppliers, as well as white-owned suppliers that are interested in becoming black-owned.

The Volkswagen B-BBEE Initiatives Trust is managed by an independent board of trustees, despite carrying the name of VWSA.

The trust has funded four companies up to now, namely Acoustex Trim, Yenza Manufacturing, Production Logix and KPL Die Casting.

Acoustex Trim and Yenza Manufacturing are both VWSA suppliers, whilst Production Logix and KPL Die Casting are part of VWSA’s Ntinga Project, which is an 18-month intensive business-based mentoring and coaching programme.

“Volkswagen is fully committed to the transformation of the supply chain of the automotive industry as this is the right thing to do,” says  VWSA MD and chairperson Thomas Schäfer.

“It is important for original equipment manufacturers (OEMs, or vehicle manufacturers) to collaborate in developing new black suppliers to ensure that their businesses are sustainable and competitive.”

“The support we have received from the trust goes beyond anything we received from any commercial bank,” adds KPL Die Casting owner Sally Marengo.

“We have been able to increase our production capability, as well as achieve leading-edge technical capacity, which has unlocked new markets.”

Eastern Cape Finance, Economic Development and Environmental Affairs MEC Oscar Mabuyane notes that the success of the programme earns VWSA and Schäfer a new name, namely ‘Dala’Mathuba’ – creator of opportunities.

“Our government is working on aligning the curriculum of technical and vocational education and training colleges with the requirements of local OEMs, like VWSA, to ensure that we develop the right skills that are required for our economic growth.”

 

 

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer

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:0.116 0.164s - 164pq - 2rq
Subscribe Now