The South African Deputy Minister of Trade and Industry, Bulelani Magwanishe launched a multi-million-rand Black Industrialist firm, Maneli Pets Food in Edenvale, Gauteng today, 4 September 2017.
Maneli Pets Food was approved for a grant funding of ZAR12.5 million from the Department of Trade and Industry’s (DTI) Black Industrialists Scheme (BIS).
Speaking at the launch, Deputy Minister Magwanishe says Edenvale is witnessing the launch of a 65% a youth-owned Black Industrialist company which confirms the capability of young people to contribute actively in the creation of employment opportunities and growing the country’s economy.
“The launch of Maneli Pets Food proves the infinite potential and power that our youth are in possession of. South Africa has a right to a renewed hope and untamed faith because of enterprises like Maneli,” says Magwanishe.
According to Magwanishe, Maneli is the second youth industrialist project that the dti is launching in Ekhurhuleni following the United Industrial Cable project earlier this year.
He says through these incentives, government continued to believe that young people are the coal to the country’s economic engine.
“Youth participation in the productive sectors of the economy has been identified as key deliverables of the of the BI Programme. It is through BI projects such as the Maneli Pets, that government aims to expand in order to change the racial composition of the South African economy, whilst contributing to the much-needed jobs in the country,” adds Magwanishe.
It is envisaged that Maneli will export more than 90% of its produce to the United States of America and Europe. The company sources its raw material from Limpopo, Northern Cape and the Eastern Cape, thereby contributing to the local procurement of inputs.
The BIS is an incentive of the Black Industrialists Programme that aims to unlock the potential within black industrialists operating in South African economy through deliberate, targeted and well-defined financial and non-financial interventions.