A new 100% black-owned textile firm, Africa Bespoke Apparel (ABA), is set for official launch next Tuesday by the deputy minister of Trade and Industry, Bulelani Magwanishe, along with the KwaZulu Natal (KZN) MEC for Economic Development, Tourism and Environmental Affairs, Sihle Zikalala.
The company is based in Verulam, KZN and was approved for grant funding of R35.5 million from the Department of Trade and Industry (dti) Black Industrial Scheme (BIS). The project was co-funded by the KwaZulu-Natal government’s Growth Fund.
“The company is the first one amongst the BIS beneficiaries to create about 450 employment opportunities within four months of its operation,” said a dti spokesperson, pointing out that BIS was the incentive arm of the Black Industrialists Programme which “aims to unlock the potential within black industrialists operating in the South African economy through deliberate, targeted and well-defined financial and non-financial interventions”.
“The BIS supported Africa Bespoke Apparel to acquire the new equipment in order to simplify and improve the production process,” said Magwanishe.
He pointed out that this new equipment would enable the company to triple its production.