The 6th edition of the Manufacturing Indaba is to be held on the 25th and 26th June 2019 at the Sandton Convention Centre in Johannesburg, also known as the economic hub of Africa. This industry-revered conference is set to highlight growth opportunities for black industrialist participation, as communicated in the Black Industrialist Programme (BIP). Pressing concerns such as industrial inclusion, demographic modification of industrial asset ownership and racially equitable enterprise control are to be explored in detail. The event aspires to support South Africa’s Vision 2030 strategy.
Governmental initiatives and frameworks such as the National Development Plan (NDP) and Industrial Policy Action Plan (IPAP) have been developed to eliminate poverty and reduce inequality. Measures for national development articulated under the National Development Plan (NDP) and the industrial strategies forwarded by Industrial Policy Action Plan (IPAP), aim to accelerate robust and sustainable economic growth that can be realised through promoting black industrial inclusion. The trickledown effect of these policies will be widely observed across various segments of marginalised communities by offering decent employment opportunities, thereby enabling them to prosper and secure improved living standards.
An inclusive economy is imperative to restoring economic equality in South Africa. Previously disadvantaged individuals still have minimal participation levels in terms of the country’s trade, manufacturing and industrial concerns, which remains a pressing issue. Black industrialists are often confronted with various barriers when attempting to start or grow their manufacturing business, one of which is inaccessible funding opportunities. The absence of financial security and track records render them unqualified to secure capital with commercial institutions. In addition, black industrialists haven’t had the opportunities to develop reliable networks within the industry that may inevitably support them in becoming competitive on both a local and global scale. Moreover, their organisational success remains hampered owing to inexperience in terms of business management.
Investing in and involving the underutilised economic resources of our nation, will enable black industrialists to harness the benefits of job creation, revenue generation and innovation. This is projected to improve their competitive standing in the global market, through gaining access to capital and securing significant contracts.
The Manufacturing Indaba 2019 intends to provide a platform that will serve as a practical tool for enhancing black industrial participation. The event encourages the movement of black enterprise towards organisational success by promoting specific measures such as access to markets and enhancing availability of financing options for black entrepreneurs. Empowering black industrialists in the manufacturing realm, may set the scene for a trickledown effect into other sectors of our nation. This is a momentous step in enabling South Africa to achieve a more equitable economy.