Trade mission to Senegal yields orders worth more than R100m as province seeks cut of massive global market. Nine South African companies that participated in a trade mission to Senegal have clinched orders for halaal products totalling more than R100m over five years. The trip in early June, organised by Wesgro, the Western Cape’s trade…
DetailsBlack entrepreneurs and finance professionals could be in for a R120bn windfall if proposed revisions to the Financial Sector Code (FSC) of Good Practice are adopted. Revisions to the code, the second version of which was gazetted in 2012 to bring the 2004 financial services charter in line with broad-based black economic empowerment regulations, are…
DetailsAim is to spark more local agriculture projects, assist in transformation and enhance the export-readiness of companies. An incentive scheme designed to boost investments in new and existing agro-processing projects has kicked off with a R1-billion cost-sharing grant fund. The Agro-processing Support Scheme (APSS) targets food and beverage value addition and processing (including black winemakers),…
DetailsLindiwe Zulu says the amount allocated by the fiscus for small-business development is a ‘far cry’ from what is needed. Small Business Development Minister Lindiwe Zulu wants to mobilise the approximately R15bn sitting in the budgets of different departments and their agencies for small- and medium-sized enterprise development to ensure there is a better return…
DetailsState-owned pharmaceutical manufacturer Ketlaphela, which has yet to begin production of active pharmaceutical ingredients (APIs), may soon face competition from a black-owned rival called Inicio, which has secured a licensing agreement with German firm Fluxpharm. The agreement is an important step towards possible local API production for HIV/AIDS drugs, which locally based pharmaceutical manufacturers import…
DetailsThe key purpose of the Fund is to assist qualifying enterprises in the downstream steel sectors to improve their competitiveness and assist companies. The Fund will be applied to finance the following initiatives, which directly address competitiveness issues: Modernisation of plant machinery and equipment; Upgrade of plant machinery and equipment to meet quality assurance requirements;…
DetailsThe Agro Processing Support Scheme (APSS) seeks to stimulate investment in the agro-processing sector. The Objectives of the APSS: Increased capacity, Employment creation, Modernised machinery and equipment, Competitiveness and productivity improvement, Broadening participation. Description of Qualifying Processes/Projects The incentive is available to new and existing agro-processing/beneficiation projects. This can also involve a wide range of…
DetailsThe launch of the biggest ever steel mill in South Africa with Chinese investment and expertise is being delayed by a sluggish local steel industry, hostile peers, and low return on investment expectations. Will the huge new mill ever see the light of day, and what will it mean for South Africa’s beleaguered steel industry?…
DetailsJohannesburg – The Department of Trade and Industry (dti) is scaling up its Black Industrialists Programme with a 100 black industrialists expected to receive support in the current financial year. Speaking at the launch of the ninth iteration of the Industrial Policy Action Plan (IPAP) in Sandown Johannesburg on Monday, Trade and Industry Minister Rob…
Details25 MAY 2017 – MEDIA RELEASE 1. BACKGROUND The country’s downstream industries in the metals and engineering sectors, particularly small to medium sized enterprises (with up to 50 employees) are under serious pressure due to a number of structural factors, which have undermined the sector’s competitiveness. This has resulted in a number of firm closures…
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