From Creamer Media in Johannesburg, this is the Real Economy Report.
Sashnee Moodley:
ArcelorMittal South Africa has completed the first phase of its new 1 600 m2 Matlafatso steel industry incubation hub, in Vanderbijlpark, to help develop and absorb young emerging industrialists into its procurement supply chain. Natasha Odendaal tells us more.
Natasha Odendaal:
The R30-million Incubation Hub is providing tailored development support to an initial ten on-site and two virtual-based future industrialists within the steel and manufacturing sector to “bridge the journey from start-up to industrialist”.
The brainchild of AMSA, in an attempt to strengthen the participation of young black industrialists within the company’s procurement spend, the incubator hoped to break the barriers to entry for the emerging entrepreneurs.
AMSA transformation group manager Freddie Swart discusses this further:
AMSA transformation group manager Freddie Swart:
Natasha Odendaal:
After only a few months, the development programme, equipped with dedicated workshops and the use of an 800 m2 communal workshop space and industrial manufacturing equipment, has gained some traction.
AMSA transformation group manager Freddie Swart:
Natasha Odendaal:
Further plans Swart assured that plans were in place to expand and diversify the incubation hub to include an innovation centre specifically geared towards start-up enterprises and grow its virtual capabilities to allow industrialists to be developed at their own sites.
AMSA transformation group manager Freddie Swart:
Sashnee Moodley:
Other news making headlines:
Act revised to apply tariffs on imported products
And, think-tank hands over title deeds to residents of Western Cape town
Earlier this year, the PPPFA was adapted to include the designation of domestic steel, wire and other industry products, and, although it came into effect in April, the South African Wire Association says it is too soon for steel construction and wire companies to reap the benefits.
SAWA director Keith Campbell:
Think-tank the Free Market Foundation’s Khaya Lam land reform project last month handed over the latest batch of title deeds to residents in the Western Cape, thereby taking the project’s total title deed handover tally to 1 360.
Khaya Lam Land Reform project manager Perry Feldman:
Sashnee Moodley:
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.