eThekwini Municipality launched the R2.2-billion automotive supplier park that will be operational as of 2021. The automotive manufacturer, Toyota, will be one of the first tenants in the special economic zone.

The memorandum of understanding (MoU) was signed between the KZN Department of Economic Development, Ithala Development Finance Corporation (IDFC) and the South African Technicians Association (SATA). The MoU is aimed at fast-tracking the entry of disadvantaged communities into the automotive sector and entire value chain in the province. This investment initiative forms part of the revitalization of the township economy and Department of Economic Development, Environment and Tourism will be assisting emerging entrepreneurs in the automotive industry. The partnership will develop 1 339 new jobs will be created as a result of the investment.

Guest: Mhlanganisi Madlongolwana