Industrialists empowered

2017-08-09 06:03

The Department of Trade and Industry (DTI) has joined hands with First National Bank (FNB) to improve access to finance for black industrialists.

The pledge that was signed by both parties in Johannesburg on Tuesday, 25 July, aims to improve access to finance for black industrialists in order to advance accelerated economic transformation.

“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. “This partnership will improve access to finance, particularly for businesses in manufacturing, thus ensuring government’s strategic objective of creating new role-players in the economy,” said Rob Davies, minister of Trade and Industry.

Speaking at the signing ceremony, Davies said the partnership with FNB will see the two entities share information regarding various products offered by the DTI, with a focus on facilitating information sharing regarding the DTI’s incentive programmes.

The DTI says the concept of black industrialists refers to black people directly involved in the origination, creation, significant ownership management and operation of industrial enterpri-ses that derive value from the manufacturing of goods and services on a large scale, acting to unlock the productive potential of our country’s capital assets for massive employment locally.

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