BEE AS A POTENTIAL DRIVER FOR ECONOMIC GROWTH IN SOUTH AFRICA: OPPORTUNITIES IN THE PROVINCE OF KWAZ

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BEE AS A POTENTIAL DRIVER FOR ECONOMIC GROWTH IN
SOUTH AFRICA OPPORTUNITIES IN THE PROVINCE OF
KWAZULU-NATAL

• Sipho Nyembezi.
• CEO, Ithala Development Finance Corporation.

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BEE IN SOUTH AFRICA DEFINITION

• Promotion of business ownership and control by
  black persons
• Promotion of human resource development among
  black people
• Procurement of products and services from
  black-owned enterprises.

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BEE IN SOUTH AFRICA RATIONALE

• Critical for stability in the country and
  sub-continent.
• Potential to boost economic activity in the
  country.
• Imperative to deal with consequences of
  discrimination and to level playing fields.

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ADVANTAGES OF INVESTING IN KWAZULU-NATAL

• Unrivalled geographic position, with easy access
  to major global markets.
• Africas two busiest harbours situated in the
  province.
• World class infrastructure.
• South Africas second largest manufacturing
  centre.
• Healthy, sub-tropical climate.

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POTENTIAL INVESTMENT SECTORS

• Agriculture and Agro-Processing.
• Aluminium beneficiation.
• Tourism.
• Marine.
• Automotive components.
• Information and Communication Technology.
• Arts, Crafts and Cultural Industries.
• Property Development.

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RICHARDS BAY INDUSTRIAL DEVELOPMENT ZONE A
PRACTICAL EXAMPLE

• Purpose-built industrial estate adjacent to the
  port of Richards Bay, one of the largest bulk
  ports in the world.
• Provides world-class infrastructure and one of
  the lowest electricity rates in the world.
• Encourages international competitiveness, through
  tax and duty-free incentives.

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BEE POSSIBILITIES

• Joint Ventures.
• Business Skills Development.
• Outsourcing of activities to BEE companies in
  South Africa.
• Sourcing goods and services from black
  enterprises.
• Business-to-Business linkages.
• Participation in infrastructure projects.

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HOW WILL BEE DRIVE ECONOMIC GROWTH?

• More players in the economy, resulting in
  increased economic activity.
• Increased levels of skills.
• Increase in standard of living.
• Increase in disposable income.

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ITHALAS ROLE

• BEE deal-structuring.
• Business Finance.
• Business Skills Development.
• Participation in infrastructure projects.

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ITHALA CONTACT DETAILS

• Website www.ithala.co.za
• E-Mail snyembezi_at_ithala.co.za
• Tel [phone]
• Fax [phone]