Black in­dus­tri­al­ists get a fi­nance pledge

The Star Early Edition - - BUSINESS NEWS - Them­be­lihle Mkhonza

MIN­IS­TER of Trade and In­dus­try Rob Davies to­gether with First Na­tional Bank (FNB) chief ex­ec­u­tive for Public Sec­tor Bank­ing Kgosi Led­imo yes­ter­day signed a pledge that would im­prove ac­cess to fi­nance for black in­dus­tri­al­ists to fast-track ac­cel­er­ated eco­nomic trans­for­ma­tion at a cer­e­mony held in Jo­han­nes­burg.

Davies said the part­ner­ship would see the two en­ti­ties share in­for­ma­tion re­gard­ing var­i­ous prod­ucts of­fered by the De­part­ment of Trade and In­dus­try (dti), with a fo­cus on fa­cil­i­tat­ing in­for­ma­tion-shar­ing re­gard­ing the dti’s in­cen­tive pro­grammes.

Davies said: “By com­mit­ting to this agree­ment, we un­der­take to col­lab­o­rate with FNB in mar­ket­ing our in­cen­tives and other re­lated pro­grammes on their web­site; we will also put mea­sures in place to eval­u­ate ap­pli­ca­tions for fi­nan­cial sup­port that are re­ferred or re­ceived through FNB.

“Through this pro­gramme, the gov­ern­ment hopes to con­trib­ute to­wards shift­ing the de­mo­graphic com­po­si­tion of South Africa’s in­dus­trial sec­tor and en­gage the un­der-utilised source of jobs, rev­enue, taxes and in­no­va­tion, which are black in­dus­tri­al­ists.”

Since its es­tab­lish­ment last year, the Black In­dus­tri­al­ists Pro­gramme has ap­proved 52 projects for sup­port, with a pro­jected in­vest­ment value of R4.5 bil­lion.

PHOTO: SUP­PLIED

The Min­is­ter of Trade and In­dus­try, Dr Rob Davies, to­gether with FNB chief ex­ec­u­tive for Public Sec­tor Bank­ing, Kgosi Led­imo, signed a pledge that will im­prove ac­cess to fi­nance for black in­dus­tri­al­ists yes­ter­day.

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