The Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi says there is a great need for a massive improvement from 21% black women company representation in the Johannesburg Stock Exchange as reported in 2022.
He was addressing guests gathered at the headquarters of the Industrial Development Corporation (IDC) for the Women’s Month commemorations of the Department of Trade, Industry and Competition (the dtic) and its businesses development support agencies.
Godlimpi said while the empowerment of women was a responsibility shared by all, government has a critical part to play by being deliberate through policy and the development of initiatives that will accelerate this process.
He said there were already great strides and significant advancemencements made. Among them is the disbursements of R28 billion over the last 10 years to 1 200 women-empowered business initiatives, 95% of which were black industrialists and black-owned projects. The funds were disbursed by the Industrial Financing Group (IFG) comprising of the Incentive Branch (IB) within the dtic, the IDC and the National Empowerment Fund (NEF)
“The industrial financing reach was far and wide with women empowered and owned projects accessing incentives across all nine provinces. These projects are operating in a range of sectors and industries with the most prominent including manufacturing (agro-processing, chemicals, mining and mineral beneficiation, steel and metal fabrication, wood and paper products, automotive); services (tourism, hotels as well as community, social and personal services); wholesale and retail trade; construction; real estate; and transport and storage,” he said.
He addded that during the 2023/24 financia year, the IFG disbursed over R1 billion to women-owned projects.
“These projects reported investment made during the year of approximately R1.7 billion and about 4 000 active jobs. In terms of contributing towards localisation, women- owned projects reported producing R168 million additional local output in the 2023/24 financial year compared to the previous year,” he said.
The Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi addressing delegates at the Women’s Month celebrations of the dtic and its entities held at the Industrial Development Corporations (IDC) offices in Sandton
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Bongani Lukhele – Director: Media Relations
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Issued by: The Department of Trade, Industry and Competition (the dtic)
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