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South Africa Government To Help Finance Black Industralists

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Pretoria – Trade and Industry Minister Rob Davies has reiterated that the Black Industrialists Scheme provides measures aimed at supporting majority black-owned manufacturing companies.

Provisions of the scheme include access to finance, markets, skills development and standards, quality and productivity improvement.

Minister Davies and Deputy Minister Mzwandile Masina launched the scheme last week in Pretoria.

In a statement last Friday, Minister Davies said the scheme targets entities that have extensive experience, operations and track record in their respective or envisaged industrial sectors and value chains.

The scheme targets those entities that can become real players in domestic and/or global markets within 10 years of being in the programme through new operation or business start-up, current business expansion and acquisition of an existing business.

“The Black Industrialists Scheme offers a cost sharing grant ranging from 30% to 50% to approved entities to a maximum of R50 million. The quantum of the grant will depend on the level of black ownership and management control, the economic benefit of the project and the project value.

This will cover capital investment costs; feasibility studies towards a bankable business plan (to the maximum of 3% of projected investment project cost); post-investment support (to the maximum of R500 000); and Business Development Services (to the maximum of R2 million),” said Minister Davies.

Entities that operate in the blue/ocean economy, including vessel building and repair; oil and gas; clean technology and energy as well as  mineral beneficiation among others are the ones that can receive assistance.

Other incentives of the dti that are available to support the Black Industrialists projects are Export Marketing and Investment Assistance (EMIA); Critical Infrastructure Programme (CIP);  Support Programme for Industrial Innovation (SPII); Technology and Human Resources for Industry Programme (THRIP) and Special Economic Zone (for black industrialists locating or having a linkage to SEZs or Industrial Development Zones).

The Black Industrialists Scheme is the incentive programme of the Black Industrialists Policy which aims to promote the participation of black industrialists as manufacturers in key sectors of the economy as identified in the Industrial Policy Action Plan (IPAP).

Potential Black Industrialists can visit http://www.thedti.gov.za  to access the policy, scheme and application forms.

{Source: South Africa News Agency –  SAnewsgov.za}

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