Cape Town - A R50m black industrialist firm will officially be opened in Gauteng this week.
Maneli Pets is situated in Edenvale and will be officially opened by Deputy Minister of Trade Bulelani Magwanishe on Friday.
The company was approved for grant funding of R12.5m from the Department of Trade and Industry’s Black Industrialist Scheme (BIS). The BIS is an incentive of the Black Industrialists Programme.
According to the department, the programme aims to unlock the potential within black industrialists operating in the SA economy through deliberate, targeted and well-defined financial and non-financial interventions.
Maneli Pets, which started operating in June 2017, is a specialist manufacturer of premium quality foods and treats for the global pet market.
According to the Department of Trade and Industry, the company aims to become one of the best pet food makers globally. It is a niche manufacturer in the agro-processing value chain, targeting production of premium quality foods and treats for the global pet market.
The company manufactures high protein pet foods, with raw materials sourced locally from Limpopo, Northern Cape and the Eastern Cape.
Dozens of jobs created already
Maneli Pets obtained funding of R26.6m from the Industrial Development Corporation (IDC) and the owners have made an equity contribution of R8m to the project. The company has so far created 42 jobs since commencing production, and intends to create 80 direct jobs during the next five years.
“The DTI has approved funding for 25 black industrialist projects in Gauteng, projecting to inject R2.2bn in the economy of the province, with over 2 600 direct jobs to be created. These investments cut across the productive sectors of the economy, such as metals and pharmaceuticals,” said Magwanishe.
In July this year Fin24 reported that a new pledge between FNB and the DTI will see black industrialists gain better access to opportunities and finances. The aim of the partnership is to help improve access to finance for black-owned businesses in manufacturing.
Trade and Industry Minister Rob Davies commended the success of the Black Industrialists Programme launched last year. So far the programme has surpassed the halfway mark by approving 52 projects out of its target of 100 by March 2018.
These 52 projects are worth R4.5bn in investment, with funding provided by government and other financial institutions. Over 9 000 jobs have been created through these projects.
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