Government is interested in developing bankable enterprises that can grow beyond its support and become commercially viable and sustainable.
“We are a government that is focused on supporting entrepreneurs in order to enable them to learn and grow into the full spectrum of business activities within each economic sector’s value chain to a point where they can successfully export their own products and services,” Gauteng MEC for Economic Development, Environment, Agriculture and Rural Development, Lebogang Maile, said.
He was on Monday addressing the launch of Bear Grip, a company that supplies high quality, durable and reliable pulley lagging to the mining and conveyor belting industries.
The Gauteng Enterprise Propeller approved a loan application by Bear Grip during the 2015/16 financial year. The R4.3 million was to procure manufacturing equipment, raw material, working capital and other contingencies in order for the business to operate.
Since its inception in 2016, the black owned business has employed 12 staff members in different positions. These include a supervisor, a sales person, a factory operational manager, three section leaders and six general factory workers.
“We are encouraged by the fact that even at its launch, the business is already employing 12 people, a figure which is bound to grow as the business itself grows and begins to become a more significant player within this sector.
“It is only through such visionary, dynamic enterprises and entrepreneurs, working in partnership with government and big industry players, that we will be able to win the battle over economic exclusion and marginalisation within our city region,” Maile said.
The entity exports its lagging products to Zambia, Zimbabwe, Mozambique, Botswana, Namibia, DRC-Congo, Nigeria, Ghana, Denmark, Italy, Middle Eastern Countries as well as South America.