South African private sector should not shy away from taking advantage of the unlimited investment opportunities that exist in various African countries. That was said by the Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe during her visit to Megratron Federal Company today. Megratron Federal is a power generation, transmission and distribution company based in Chloorkop, near Tembisa, in Ekurhuleni.
The company is involved in a 150 million US Dollars project in Burundi to establish two hydroelectric plants. The Department of Trade and Industry (the dti) has provided the company with R10m through the Department's Capital Projects Feasibility Programme for the purpose of conducting feasibility studies required before the plants could be set up.
"The massive project that this company is involved in is a result of the state visit to Burundi that was led by President Zuma in August last year. It is really encouraging to note that a private company has taken advantage of the opportunity that government has created by leveling the economic playing through the engagement between the two countries' governments. We need more companies to take the leave from Megatron's book and pursue opportunities that are so abundant in Africa. The private sector has a critical role to play in the development of Africa's infrastructure, which the SA government has also prioritised in its Africa strategy," said Deputy Minister Thabethe.
She added that the government was convinced that companies such as Megatron would play an important role in growing the country's economy and creating employment.
"We will never reach the five million jobs we are planning to create by 2020 if the private sector is not on board. The government is prepared to support companies like Megatron in order to boost the economy and enhance entrepreneurship in the country. The South African government is also giving special attention to the manufacturing sector through the Industrial Policy Action Plan due to the critical role that the sector plays in the economy," said Thabethe.
Megatron CEO Mr Ryan Otto said his company was involved in various other projects in countries such as Zimbabwe, Democratic Republic of the Congo, Gabon, Angola and Ghana. The company, which was established in 1999 with twenty employees, is currently employing 400 people.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
