#DrivingLocalisation NAACAM is pleased to announce the launch of a localisation and enterprise development partnership with Transnet and the National Empowerment Fund (NEF). The five-year partnership in which Transnet, NEF and NAACAM will together implement a programme of approximately R224 million, is expected to contribute to the resurgence of local manufacturing and lowering logistics costs.
Transnet’s partnership with NAACAM aims to develop local manufacturing capacity and capability in the core business of Transnet. This is aimed at increasing local content and reducing the current over-reliance on imports. NAACAM Executive Director, Renai Moothilal, stated that “NAACAM has experience in implementing programmes aimed at using localisation and supplier development as a tool for increasing domestic competitiveness especially in OEM-driven value chains. There are learnings out of the automotive sector that can benefit the Transnet logistics sector.”
In order to provide the necessary financial support to the participating enterprises, Transnet has also partnered with NEF through a 50-50 matching principle which will allow the beneficiaries to have access to an additional source of funding, while empowering them in line with Transnet’s core operations.
Read the full press release here Media Statement – NEF, Transnet SMME Fund to drive entrepreneurship & local manufacturing – 07 November 2022. For more information, please contact Shivani Singh – [email protected]