What you Need to Know About this R50m Black Industrialist Firm Launched by the DTI
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This article was originally published in August 2017.
Based in Edenvale, east of Johannesburg, the firm was approved for grant funding of R12.5 million from the department’s Black Industrialist Scheme (BIS).
The BIS is an incentive of the Black Industrialists Programme that aims to unlock the potential within black industrialists operating in the South African economy through financial and non-financial interventions.
Maneli was founded by entrepreneur Nhlanhla Dlamini who is also the managing director.
Find out more about Dlamini, as well as the company and details of the deal:
The company, which started operating in June, manufactures high protein pet foods, with raw materials sourced locally from Limpopo, Northern Cape and the Eastern Cape.
The company takes offcuts of ostrich, game and crocodile meat and processes them into high-end pet food and treats for the overseas market.
“It’s basically taking waste products from abattoirs and converting them into premium, value-added products, using proteins that aren’t available in other markets,” Dlamini said in a City Press report.
According to the same report, Maneli Pets is an offshoot of the Maneli Group, “a diversified food company that looks for opportunities to build businesses in the agricultural and green energy sector, while boosting black entrepreneurship.”
The company has so far created 42 jobs since commencing production with the intention of creating 80 direct jobs during the next five years.
Maneli was approved for grant funding of R12.5 million from the department’s Black Industrialist Scheme (BIS).
Maneli also obtained funding of R26.6 million from the Industrial Development Corporation (IDC), and the owners have made an equity contribution of R8 million to the project.
Business owner, Dlamini’s expertise covers strategy, operations, energy, transport and logistics and banking. Prior to establishing Maneli Foods, Dlamini worked for McKinsey & Company for five years, and for Morgan Stanley as an investment banker in London.
Acccording to the Maneli website, Dlamini holds a Bachelor of Commerce (with Distinction) from Wits University, a Postgraduate Diploma in Management (with Distinction) from the Wits Business School, an MPhil in Development Studies from Oxford University, and an MBA from the Harvard Business School.
His master’s thesis was on youth unemployment in South Africa, according to the City Press report.
He is a Goldman Sachs Global Leader and a Rhodes Scholar.
Next For The Black Industrialist Programme
Deputy minister Bulelani Magwanishe said that they were continuing to fund black industrialists.
“The DTI has approved funding for 25 black industrialists projects in Gauteng, projecting to inject R2.2 billion in the province economy with over 2,600 direct jobs to be created. These investments cut across the productive sectors of the economy, such as metals and pharmaceuticals,” Magwanishe said.
Meanwhile, the department said it would take a group of Black Industrialists on an outward trade mission to Uganda next month to assist them in the search for a market for their products and investments opportunities.
The mission will consist of export-ready black industrialists operating in the economic infrastructure, agro-processing, chemicals, pharmaceuticals, plastics, electronics, as well as textiles, footwear and leather sectors. (via African News Agency)