MEC for Economic Development to launch the Black Industrialists Programme 2017-18
MEC for Economic Development, Tourism and Environmental Affairs – Mr Sihle Zikalala on his Budget Policy Speech 2017/18, announces that R15 million has been set aside to intensify implementation the Black Industrialists Programme
The R2.784 billion budget for the department was tabled on the 5th May 2017, and MEC for Edtea, Mr Sihle Zikalala significantly emphasised that the budget was aimed at fast tracking the attainment of a radically transformed, inclusive and sustainable growth for KwaZulu-Natal hence the budget was themed as the “attainment of a radically transformed, inclusive and sustainable economic growth for KwaZulu-Natal”.
During his address he categorically announced various major initiatives that aim to drive the radical economic transformation for the province and also promote localisation. The Black Industrialists Programme was highlighted amongst others as one of the programmes that require immediate implementation with the launch set to take place before the end of June 2017.
MEC Zikalala further mentioned that an MOU has been signed with the Department of Trade & Industry to fast track the implementation of this programme in KwaZulu Natal, with a set aside budget of R15 million to provide the necessary support for local project promoters, and also for the provision of coordinated and explicit guidelines for the promotion of long-term development of Black manufacturing entities.
Further to the launch the Project Management Unit will be established within two (2) Special Economic Zones with iDube Trade Port and Richards Bay Industrial Development Zone following respectively as drivers of the programme.