The KwaZulu-Natal MEC for Economic Development, Tourism and Environmental Affairs Nomusa Dube-Ncube will on Monday, 09 November, preside over the signing of a Memorandum of Understanding between Ithala Development Corporation Limited (IDFC), South African Technicians Association (SATA) and Ithala SOC Limited (SOC).
The agreement will see these parties cooperate with one another as strategic business partners in delivering on the shared commonalities within their respective mandates.
MEC Dube-Ncube was buoyant about the prospects of this agreement. “During our Budget Vote in June this year, in the midst of uncertainty brought about by the coronavirus pandemic, we boldly reiterated our plans to revitalize the township and rural economy. We committed to assist emerging entrepreneurs that are involved in the automotive sector by training them as artisans and mechanics. It is now time to get down and get it done” says MEC Dube-Ncube.
SATA is a non-profit organisation whose objective is to advocate for the impartial and equitable allocation of opportunities to historically disadvantaged service providers especially in the servicing of the Public Sector fleet. Part of SATA’s mandate is to significantly increase the availability of historically disadvantaged individuals’ owned outlets that can provide quality service to the entire automotive repairs sector value chain. Ithala IDFC Limited and Ithala SOC Limited shall offer products and services to SATA members including but not limited to asset based finance, working capital, bridging finance and relevant credit facilities. Further, the institution will provide access properties owned by Ithala where service providers in the automotive repairs sector could locate their businesses. There is a suite of facilities that the organisations have committed to, which will be unpacked at the signing ceremony.
“This event demonstrates an actualization of government commitment to supporting this sector in the township and rural areas. Today we are effecting that commitment. We hope government departments and corporate will use these centres for their fleet repairs” concludes MEC Dube-Ncube
The signing ceremony will take place as follows:
Date: Monday 09 November 2020
Time: 09h00
Venue: Trade and Investment KwaZulu-Natal offices. Kingsmead Office Park, Kingsmead Boulevard 1 Arundel Close, Stalwart Simelane St,
Enquiries:
Ndabezinhle Sibiya, Spokesperson for the MEC -
Cell: 082 375 4742
Media Liaison Officer Nathi Olifant
Cell: 060 970 5113
