Trade and Industry Minister Rob Davies at the launch of the Black Industrialists Policy yesterday in Pretoria said the programme is geared towards manufacturing, industrialisation and inclusive economic growth.
The policy and the programme are a key part of government’s broad industrialisation initiatives to expand the industrial base and participation of black industrialists in manufacturing activities and the economy.
Minister Davies said the programme is designed to create a single forum to provide black industrialists with financial aid, non-financial support, market access and advice for those who are already trading in the manufacturing space.
The Black Industrialists Programme offers a cost-sharing grant ranging from 30% to 50% to approved entities, to a maximum of R50 million. The quantum of the grant will depend on the level of black ownership and management control, the economic benefit of the project and the project value.
Travelstart gets $40 million in funding
Travelstart, the online travel agency based in South Africa with offices in Dubai, Istanbul, Lagos, Cairo, and Dar es Salaam, has received an investment of $40 million (R648 million) in a funding round led by Amadeus Capital Partners and MTN Group, a telecommunications company.
Travelstart intends to use the funding to expand in Africa beyond its strongest markets, which include South Africa, Nigeria, Egypt, and Kenya. (Swift)
Bitcoin adoption in SA set to grow
Bitcoin experts in emerging and developed markets say that the adoption of the digital currency in South Africa will see strong growth and more merchants will start accepting the currency. January saw 236,175 transactions taking place per day in the country.
“As more people use and accept Bitcoin, it creates positive feedback loops for usage and trust, which helps grow the industry. At some point we believe it will hit a critical mass that will cause growth to become exponential,” says Werner van Rooyen, head of business development and growth at BitX. BitX is a Singapore-based global Bitcoin platform, with offices in Cape Town, that was founded in 2013. (Bizcommunity)