From Creamer Media in Johannesburg, this is the Real Economy Report.
Sashnee Moodley:
The Industrial Development Corporation has approved just under R7-billion in investment in Mpumalanga from May last year, when it opened a regional branch in the provinces. This investment includes funding towards an emerging black-owned recycler, Mihula Holdings, which is based in the Highveld Industrial Park. Marleny Arnoldi visited the site.
Marleny Arnoldi:
Funding from the IDC since March this year has enabled Mihula to purchase additional equipment and trucks, which subsequently allowed the company to shred and bale around four tons of material a day. One bale weighs around 500 kg.
Mihula collects paper, cardboard, glass, cans and plastic bottles. CEO Amilia Mkhonza has managed to employ eight people in her workshop. She tells us more about her activities on site.
Mihula Holdings CEO Amilia Mkhonza:
Marleny Arnoldi:
Mihula currently sells material to recyclers including Mpact and Consol Glass and plans to open up a buyback centre in eMalahleni within the next few months. Mkhonza elaborates.
Mihula Holdings CEO Amilia Mkhonza:
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. Don’t forget to listen to the audio version of our Engineering News daily email newsletter.