The Congress of South African Trade Unions (COSATU) welcomes the opening of a massive new R300 million plant to manufacture peanut butter by Tiger Brands in Krugersdorp. This will inject badly needed stimulus in the local economy and create 62 direct and many more indirect jobs in the community and value chains.
This is the largest single investment by Tiger Brands in the past five years and is a vote of confidence in South Africa's recovery.
We welcome the progressive engagements by the Department of Trade, Industry and Competition to support local procurement and the commitment by Tiger Brands to source over 70% of its supply of peanuts from local farmers. This will provide a further boost to efforts to ramp up localisation and help grow a sector with great potential.
The timing of this investment will position the sector to take advantage of the African Continental Free Trade Area in the near future.
It is an affirmation of the call by the African National Congress' 2024 elections manifesto, to place localisation at the centre of South Africa's economic development and job creation programmes.
All too often, we focus on the many challenges and own goals we encounter as a nation. It is equally important that when positive developments occur, we commend these and encourage further such efforts.
