Digital technology and equipment multinational Samsung continues to invest in South Africa, which aligns with its investment goals to remain an active contributor to the future of the South African economy and a strong supporter of economic transformation in a manner inspired by the transformative impact of economic investment that took South Korea from one of the poorest countries in the world to one of the most successful economies.
The company places significant focus on harnessing the power of technology and innovation to effect great positive change in the country and has a Level 1 broad-based black economic empowerment rating, says Samsung CEO Jong-Hee Han.
Han visited South Africa to assess the company’s South African and African business operations. He met with Trade, Industry and Competition Minister Ebrahim Patel and International Relations and Cooperation Minister Dr Naledi Pandor to discuss Samsung’s long-standing partnership and collaboration with the South African government, as well as possible future opportunities for growth and further investment.
Samsung aims to build on the landmark multimillion-rand Equity Equivalent Investment Programme (EEIP), in partnership with the Department of Trade, Industry and Competition (DTIC) and sector support from the Department of Communications and Digital Technologies, which has seen three years of sustained success since May 2019.
Samsung’s ten-year plan aims to address key developmental aspects linked to the National Development Plan and the overall transformation of the economy, the company adds.
Further, the EEIP is aligned to the DTIC’s Black Industrialist Programme through e-waste recycling and beneficiation, which has seen an investment in two black, female-owned entities currently operating in the full value chain of e-waste.
The programme also has a strong focus on enterprise development and capacity building in information and communications technology through scarce skills development.
In addition, Samsung is developing Fourth Industrial Revolution skills in partnership with a number of institutions of higher learning in South Africa.
Additionally, South African youth are gaining artisanal and electronics skills through the Samsung Engineering Academy programme, as well as coding, software development, Internet of Things and artificial intelligence skills through the Samsung Innovation Campus programme.
Samsung’s Solve for Tomorrow science, technology, engineering and mathematics competition will encourage learners in grades 10 and 11 to solve social issues in their communities, which is being piloted in 51 schools across the country.