The economy of KwaZulu-Natal has taken a small step toward development after the new FutureLife facility at the Dube Trade Port was officially launched this week by business and government officials in the province.
KZN MEC for Economic Development Tourism and Environmental Affairs (EDTEA), Siboniso Duma said the R75 million investment in the new plant instilled a sense of hope for the future of the economy.
In attendance for the FutureLife factory launch were Hamish Erskine, CEO of Dube TradePort; Riaan Heyl, CEO of PepsiCo; Mark Bunn, Managing Director of FutureLife and Chairman of Dube TradePort Board, Mpumelelo Zikalala.
FutureLife was founded in 2007 by Paul Saad, but was slowly bought out by Pioneer Foods, a subsidiary of PepsiCo.
This year, PepsiCo bought the remaining share to own FutureLife outright, BizCommunity reported.
The opening of the new plant meant 196 people would now be employed there, according to Duma.
The EDTEA MEC also discussed at length some of the other industries that do business inside Dube Trade Port and said businesses choose a specific area for a number of reasons, mainly infrastructure.
While KZN’s water, sanitation, and road infrastructure took a couple of knocks in the face of bad weather that caused floods, Duma said municipalities must be ready to perform better and be fully functional.
This includes, but is not limited to, upgrading electricity supply and maintaining substations, securing infrastructure assets from theft and vandalism, and addressing the issue of potholes.
“Critically, we celebrate the fact that FutureLife procures 88% of its raw materials locally. These include maize, soya, sugar, rice, and bran. In addition, all product packaging is procured locally.
“In conclusion, we wish to appreciate the involvement of the Department of Trade, Industries, and Competition, the Industrial Development Corporation, eThekwini Municipality, and under the government departments in our Special Economic Zones.
“We acknowledge the role played by our entities, such as the KZN Growth Fund, Trade Investment KZN, Ithala, and others. It is through such a partnership that we will be able to put this province on a path of growth and prosperity. It is our wish that as we move forward, we get more of our emerging entrepreneurs involved in the distribution of FutureLife products,” Duma said.
IOL