$3.8m Black Industrialist Firm Launched in South Africa

Google+ Pinterest LinkedIn Tumblr +

Maneli Pets Food, a multi-million dollar Black Industrialist firm has been launched in Edenvale, Gauteng in Johannesburg, South Africa by the Deputy Minister of Trade and Industry Bulelani Magwanishe.

The firm, a 65 percent youth-owned Black Industrialist company was approved for a grant funding of R12.5 million from South Africa’s Department of Trade and Industry’s (the dti) Black Industrialists Scheme (BIS).

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

“This launch 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,” Magwanishe noted.

The company confirms the capability of young people to actively contribute to job creation and economic growth.

The South African government believes that young people can be drivers of the country’s economy and has identified youth participation in the productive sectors of the economy as a key deliverable of the Black Industrialists Programme which also aims to change the racial composition of the country’s economy.

Maneli is expected to exports over 90 percent of its produce to the U.S. and Europe as well as contribute to the local procurement of inputs as it sources raw materials from Limpopo, Northern Cape and Eastern Cape.

The company is the dti’s second youth industrialist project after the United Industrial Cable project unveiled in early 2017.

The 90 percent black-owned South African company is an emerging innovator in the field of specialized and industrial cable manufacturing.


About Author

Leave A Reply