East London smart factory to create jobs

The launch of the Yekani Manufacturing factory at the East London Special Economic Zone is expected to create at least 1 000 new jobs for the community.

The R1 billion smart factory was launched by Trade and Industry Minister Rob Davies in June.

The 100 percent black-owned information and communication technology (ICT), electronics and manufacturing company is a beneficiary of the Department of Trade and Industry’s (dti) Black Industrialist Programme and the Special Economic Zones Fund.

“What we are witnessing today is a company that is getting into this space, which is very important as we prepare ourselves for the Fourth Industrialist Revolution. This is an example of what we can do if we put our minds to it. I think this is an investment to celebrate at a number of levels in an industry that is of strategic importance and key to job creation,” said Minister Davies.

The dti provided R350 million for the construction of the factory that is located in the East London Special Economic Zone through the Special Economic Zones Fund.The company also received a R50 million grant under the Black Industrialist Programme for the machinery at the plant. Through the grant, the company will be able to employ a further 1 000 people.

Formed in 1998, the company currently manufactures DSTV’s Explora HD decoders, TEAC television sets, set-top boxes and tablets.

Group CEO of Yekani, Dr Siphiwe Cele, said the new facilities will allow Yekani to lead the way in technology innovation and to help Africa secure its rightful place among global technology leaders.