Photo by: Duane Daws
The Department of Trade and Industry (DTI) on Thursday said it would, following a request for information from a number of stakeholders, release a list of beneficiaries across its incentives programmes at the end of July.
The list will be made available along with an incentive report that details the impact of the incentive programmes, following the yearly audit by the Office of Auditor-General.
Trade and Industry Minister Dr Rob Davies on Tuesday refused to release the names of 46 recipients of the government’s nonrefundable grants and concessional loans that form part of its flagship Black Industrialist programme (BIP), arguing that a comprehensive list of beneficiaries could be abused by those with ulterior motives and could result in the beneficiaries being “harassed”.
He did, however, showcase four beneficiary firms, including electronics firm Yekani Manufacturing; copper and aluminium cables producer United Industrial Cable; valve guides and seats producer Micro Finish; and K9 Pet Foods.
The DTI expects the BIP to support about 100 black industrialists by the end of March 2018.
The BIP was launched in 2016 and is funded through a R3.6-billion on-budget allocation to the department to support manufacturing investments. It is also backed by loan finance made available through development finance institutions, such as the Industrial Development Corporation, the Land Bank and the National Empowerment Fund.
The IDC has previously said it had set aside R20-billion to support black industrialists.