• BEE News

DTI to launch R81m black-owned industrialist textile firm in KZN


African Bespoke Apparel was approved a funding grant of R35.5 million by DTI’s Black Industrial Scheme (BIS).

Deputy minister of trade and industry, Bulelani Magwanishe, together with KwaZulu-Natal’s MEC for economic development, Sihle Zikalala, will launch a multimillion-rand black-owned industrialist textile firm next week Tuesday in Verulam, KwaZulu-Natal.

Some of Africa Bespoke Apparel's 450 employees. Picture: via www.aba.africa

A statement issued by the Department of Trade and Industry (DTI) today said that African Bespoke Apparel (ABA) operates in the textile, clothing and footwear sector and had created about 450 job opportunities in its first four months of operation.

ABA was approved a funding grant of R35.5 million by DTI’s Black Industrial Scheme (BIS). The project is co-funded by the KwaZulu-Natal government’s growth fund.

“The BIS supported Africa Bespoke Apparel to acquire the new equipment which aimed at simplifying and improving the production process with increased flexibility and safety, which is combined with the realisation of guaranteed high quality to meet the demands of the modern textiles and clothing sector,” said Magwanishe in the statement.

He said that the modern technology installed through the BIS would enable the company to triple its production and that increased manufacturing capability had made ABA competitive in relation to modern standards of manufacturing in the sector.

“Through the BIS support, the company aims to penetrate a wide range of sub-Saharan African markets in future,” said Magwanishe.

Zikalala said the KwaZulu-Natal government was proud of ABA’s achievements, which augured well for the province’s intentions of reviving the local textile sector.

“Our black industrialists programme is producing handsome dividends. We have funded Africa Bespoke Apparel as the provincial government because we strongly believe that the textile sector can be used as one of the avenues of achieving our radical economic transformation agenda,” he said.


LINK : https://citizen.co.za/business/business-news/2065695/dti-to-launch-r81m-black-owned-industrialist-textile-firm-in-kzn/

Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER

45 views0 comments

© 2019 BEE Chamber (PTY) Ltd, All Rights Reserved