Investors are showing confidence in SA’s economy: Ramaphosa

A sign of confidence in the government’s ambitious investment drive launched in 2018 is the continued investments witnessed in many sectors of the nation. That’s according to President Cyril Ramaphosa at the launch of the Hesto Harnesses Ford plant, a subsidiary of Metair Investments.

The company has expanded its business and created 4 000 jobs in its new Ford plant. This has been welcomed as a major boost to the country’s ailing economy.

Automotive components manufacturer and distributor Metair Investments has expanded its business by creating 4 000 job opportunities this year alone at its new Ford plant in KwaDukuza.

Its main subsidiary, Hesto Harnesses, has a staff complement of 7 200, mainly women, making it one of the biggest employers in the northern KwaZulu-Natal region.

Ramaphosa says such investments mark the realisation of pledges made by industrialists at the South Africa Investment Conference.

“This investment, for instance, was mooted in 2019 and they now have created this factory employing 4000 people and this is a major boost to our economy. They show confidence in SA and we really appreciate that and now it had created lots of jobs for young people and women. And our investment drive is showing real fruits,” says Ramaphosa.

The company has urged the corporate sector to work with government in building the country through major investments.

“We are encouraged by how corporate South Africa needs to step up…I think we are seeing the demonstration of Corporate SA with this partnership standing to invest in the future of our lovely country, I think our continued collaboration and consideration that have been made to our partners, we will continue to leverage the opportunities that exist in this sector,” says William Hilditch from Hesto Harnesses.

Hilditch says they’ve helped upskill workers who have been trained in the engineering and the automotive industry.

“This was my first job opportunity and it is the first place that I am currently employed in it, it was a very significant opportunity in my life. It improved the way that I provide for my family, I now have six dependencies on me and all thanks to Hesto,” a Worker says.

“It really changed my life because where I come from I am a single parent yes I’ve got kids now, I’ve got a house and living on my own and it is so nice to have my own money, it changed a lot of things,” another employee says.

The company also exports its products to 46 countries.

VIDEO: President Ramaphosa undertakes investment oversight drive in KZN [embedded content]