Posted: August 3, 2021
The Department of Trade, Industry and Competition (the dtic), in collaboration with Sawmilling South Africa, the South African Wood Preservers Association and the South African Utility Pole Association will host a webinar on Access to Financing for the Timber Processing Sector tomorrow, Wednesday, 4 August 2021 from 10:00.
The purpose of the webinar is to share various financing programmes and incentives available to the timber processing sector as a key deliverable in the Forestry Master Plan which was gazetted in September 2020.
According to the Deputy Minister of Trade, Industry and Competition, Mr Fikile Majola, the Forestry Masterplan seeks to increase investment, jobs and competitiveness, underpinned by greater inclusivity in the forestry sector. He says the Masterplan supports and Reimagined Industrial Strategy and the Public-Private Growth Initiative.
“the dtic is the lead department in implementing Key Focus Area 3, that is processing which ultimately needs to convert relatively low value roundwood into forest products. A key challenge the sector has been facing in timber processing is the need for recapitalisation and injecting new investments that will lead to improved technology resulting in increased efficiency in processing the round log,” says Majola.
Majola adds that the Forestry Masterplan, which was gazetted in September 2020, calls for improving access to available funding so as to contribute to improved productivity in the sector through recapitalisation.
Link to the webinar can be access below:
Bongani Lukhele – Director: Media Relations
Tel: (012) 394 1643
Mobile: 079 5083 457
Issued by: The Department of Trade, Industry and Competition (the dtic)
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