Deputy Minister Magwanishe Launches a R50 Million Black Industrialist Firm in Gauteng

4 September 2017
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African Media Agency (New York)
press release

According to Magwanishe, Maneli is the second youth industrialist project that the dti is launching in Ekhurhuleni following the United Industrial Cable project earlier this year

JOHANNESBURG, South Africa, September 4, 2017-/African Media Agency (AMA)/- The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe launched a multi-million-rand Black Industrialist firm, Maneli Pets Food in Edenvale, Gauteng today. Maneli Pets Food was approved for a grant funding of R12.5 million from the Department of Trade and Industry's (the dti) Black Industrialists Scheme (BIS).

Speaking at the launch, Deputy Minister Magwanishe said today Edenvale was witnessing the launch of a 65% a youth-owned Black Industrialist company which confirms the capability of young people to contribute actively in the creation of employment opportunities and growing the country's economy.

"The launch of Maneli Pets Food proves the infinite potential and power that our youth are in possession of. South Africa has a right to a renewed hope and untamed faith because of enterprises like Maneli," said Magwanishe.

According to Magwanishe, Maneli is the second youth industrialist project that the dti is launching in Ekhurhuleni following the United Industrial Cable project earlier this year. He said through these incentives, government continued to believe that young people are the coal to the country's economic engine.

"Youth participation in the productive sectors of the economy has been identified as key deliverables of the of the BI Programme. It is through BI projects such as the Maneli Pets, that government aims to expand in order to change the racial composition of the South African economy, whilst contributing to the much-needed jobs in the country," added Magwanishe.

It is envisaged that Maneli will export more than 90% of its produce to the United States of America and Europe. The company sources its raw material from Limpopo, Northern Cape and the Eastern Cape, thereby contributing to the local procurement of inputs.

The BIS is an incentive of the Black Industrialists Programme that aims to unlock the potential within black industrialists operating in South African economy through deliberate, targeted and well-defined financial and non-financial interventions.

Distributed by African Media Agency on behalf of The Department of Trade and Industry, South Africa.

Source: The Department of Trade and Industry, South Africa

Read the original article on AMA.

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