CAPE TOWN – Economic growth and transformation will rely on black industrialists who can produce, own and distribute goods and anchored in value-addition, Deputy Trade and Industry Minister, Bulelani Magwanishe said.
“Economic growth and transformation will rely on industrialists who can produce, own and distribute goods, anchored in value-addition. These are the ones who harness the development of local content and are able to integrate into global value-chains. It is industrialists like Africa Bespoke Apparel, who give meaning to Africa’s agenda and policy implementation,” said Magwanishe.
Magwanishe opened a R81 million factory belonging to Africa Bespoke Apparel (ABA), a black Industrialists programme beneficiary firm based in Verulam, KwaZulu-Natal.
He described the launch of ABA as a historic moment and a crucial milestone in the roll-out of the black industrialists programme as the company is the first black industrialist company in the textile, clothing and footwear sector.
“This industrialists’ government policy to set the economy on a higher path of shared growth, and to transform its structure, enabling opportunities for millions of South Africans. To this end, our department has developed a master plan to grow the clothing, textile, footwear and leather retail value-chain. The plan, which is aimed at creating 60,000 jobs in the sector and enhance competition, will soon be announced,” he added.
Magwanishe said that at the heart of government’s policy intervention was the advancement of the industrial sector to alleviate poverty, inequality and unemployment.
“With black industrialists like Africa Bespoke Apparel, I am confident that we are close enough to achieving our objectives.”
He welcomed ABA’s planned training academy saying it would go a long way in developing the skills of young people and equip them for the new age of innovation and discovery.
African News Agency (ANA)