South Africa’s Department of Trade and Industry (the dti) has facilitated a trade and investment mission by a group of Black Industrialists to Uganda to seek market and investment opportunities for their products.
This is part of the dti’s Black Industrialists Program (BIP) which aims to promote industrialization, sustainable economic growth and transformation through the financial and non-financial support of black-owned companies in South Africa’ manufacturing sector.
The delegation to Uganda consists of Black Industrialists working in the economic infrastructure, agro-processing, electronics, textiles, footwear and leather sectors.
“Our mission for travelling to Uganda is to seek a new market for our products, as well as look for any business opportunities that we can be able to explore in Uganda. We are excited to be part of this mission and we hope that it will go a long way in assisting us to find a market where we can export our products to,” said Christopher Masina, the Managing Director of fertilizers and animal feeds processor, Nutri SA.
Vusi Ndala, CEO, Mizlek Foods noted that depending on the uptake of his company’s products in the country, Mitzek intends to set up a manufacturing facility in Uganda with an aim of distributing across East Africa.
United Industrial Cables Managing Director Xolani Mgulwa praised the mission’s timeliness saying, “We have learnt that Uganda is going through the rural electrification process at the moment. The trip will provide us with an opportunity to interact with the key people with the aim of getting involved in some of the projects.”
The Uganda mission is the dti’s third following similar Black Industrialists mission to Nigeria in September 2016 and Namibia in June 2017. Under the Black Industrialists Scheme (BIS), a scheme of the Program, the dti earlier this month approved R12.5 million grant funding for Maneli Pets Food, a 65 per cent youth-owned Black Industrialist company.
The launch followed the unveiling of the 90 per cent black-owned United Industrial Cable company, an emerging innovator in specialized and industrial cable manufacturing in early 2017.
Article first published on www.umaizi.com