Tiger Brands’ new R300 million state-of-the-art peanut butter manufacturing plant is a sign of confidence in the South African economy, said Deputy Minister of Trade, Industry and Competition, Nomalungelo Gina.
The Deputy Minister was speaking during the official launch of the company’s facility in Chamdor, Krugersdorp in Gauteng.
In a statement on Friday, the Department of Trade, Industry and Competition (dtic) said the plant is located on more than 8000 square meters of land within Mogale City, with 62 full time employees.
“The company says up to 70% of the peanuts used in the production process are procured locally and the remaining 30% from markets outside South African due to local farmers not being able to meet the actual need,” said the dtic.
Gina also commended Tiger Brands for its commitment to the economic transformation agenda and growing Small Micro and Medium Enterprises (SMME) through Enterprise Supplier Development (ESD).
“As government, we insist on this policy direction because we know that SMMEs contribute 34% to the national GDP [gross domestic product]. As the country, we are under pressure to maximise employment in this country as we are pursuing [the] re-industrialisation of the economy. SMMEs will remain an important aspect of growing our economic base. Big corporates have an obligation to use the ESD model effectively through empowerment measures such as ESD mechanisms,” she said.
Gina further urged Tiger Brands and South African based companies to fully utilise the benefits of the African Continental Free Trade Agreement (AfCTA) to ensure their own advancement and those of the South African and African economies.
The African Continental Free Trade Area creates the world’s largest free trade area by number of countries, and has the potential to bring transformative change and tremendous opportunities to African economies and businesses. -SAnews.gov.za
