• Contact us
  • Advertise Here
  • Login
Gibela Transport Magazine
  • Home
  • Airports
  • COVID-19
  • Editorial
  • Government
  • Rail
  • Taxis
  • Tenders
No Result
View All Result
  • Home
  • Airports
  • COVID-19
  • Editorial
  • Government
  • Rail
  • Taxis
  • Tenders
No Result
View All Result
Gibela Transport Magazine
No Result
View All Result
Home Cars

VWSA B-BBEE Initiatives Trust supports businesses during pandemic

Staff Writer by Staff Writer
December 15, 2020
in Cars
2 0
0
VWSA

VWSA

4
SHARES
6
VIEWS
Share on FacebookShare on Twitter

Tasked with supporting black-owned businesses in the automotive supply chain, the B-BBEE Initiatives Trust established by Volkswagen Group South Africa (VWSA) played a crucial role in helping various businesses navigate and weather the impact of Covid-19.

The Trust was formed by VWSA in 2016 with the mandate of driving transformation in the South African automotive industry by investing in black-owned suppliers and offering post-investment support to these companies. Since its establishment, the Trust has added five businesses to its portfolio and invested a total of R76,5 million in support of these businesses.

Due to the impact of Covid-19 and the national lockdown, the Trust’s priorities for 2020 were aimed at helping these businesses through unexpected economic challenges. The first step was to assess the operational and financial impact of the pandemic on each business, and then implementing measures such as loan repayment moratoriums and specialist resources to mitigate these challenges. Despite the challenges they faced, all of the businesses showed resilience and remained operational, with no significant job losses reported.

For at least one of the businesses supported by the Trust, KPL Die Casting, the support from VWSA was “a huge help” – before and during the pandemic. “With the funding we’ve received from the Trust we’ve been able to buy machinery that ultimately allowed us to save money, as we can now melt and re-use our scrap materials,” explained owner Sally Marengo. “When we were faced with Covid-19, we took charge of the finances and had daily meetings with our Chief Financial Officer, and we pulled through.”

KPL Die Casting was initially a beneficiary of VWSA’s Project Ntinga, but has gained invaluable guidance from the Trust in developing their company as a potential automotive supplier. “I’ve gained a lot of pride and confidence in the business through our interaction with the Trust and with VWSA,” said Marengo. “Their support is handholding, but not a hand-out; the Trust has been a sounding board for me which I believe would benefit a lot of small businesses like ours. It has been absolutely amazing and we have made good strides.”

“Transformation remains a key priority in the automotive industry, but through the Trust we have endeavoured to play an active role in transformation by continuously supporting the companies we’ve invested in,” said Nonkqubela Maliza, Director of Corporate and Government Affairs at VWSA. “I am proud that the Trust and VWSA have been able to continue this work throughout the uncertainty brought on by the Covid-19 pandemic. It is our goal to continue to develop black-owned businesses in the automotive value chain, to the benefit of the industry and the community.”

Tags: coronavirusCOVID-19VWSA
Staff Writer

Staff Writer

Related Posts

Steffen Knapp
People

Knapp to head the Volkswagen Passenger Car Brand in South Africa

by Staff Writer
January 18, 2021
SA TAXI PROTECT JOINS FORCES WITH AUTOBOYS
Cars

Govt clarifies vehicle licenses and license discs gazette announcement

by Staff J Writer
January 14, 2021
NATIONAL TRAFFIC POLICE
Cars

Over 3 000 arrested for various traffic violations

by Staff Writer
December 28, 2020
Cars

Beitbridge Border Post congestion cleared

by Staff Writer
December 28, 2020

Latest

  • All
  • Taxis
  • Rail
A policeman stands guard during a protest by minibus taxi operators against a new bus service for Johannnesburg. Alexander Joe/AFP via Getty Images

Fixing South Africa’s minibus taxi industry is proving hard: tracing its history shows why

October 12, 2020
Minibus taxis in Alexandra township, Johannesburg.

Subsidies for South Africa’s minibus taxis must prioritise needs of passengers – and cities

November 16, 2020

We move to lockdown level 2, but international travel remains restricted

August 19, 2020

Browse by Tags

ACSA Airports Company of South Africa Arrive Alive Beitbridge BMW Car of the Year coronavirus COVID-19 Department of Transport Eskom featured Fikile Mbalula Gautrain INAD Mbalula minibus taxi Minibus taxis Minister Mbalula NTA President Cyril Ramaphosa public transport RTIA RTMC Santaco SA Taxi South Africa Taxi Indaba taxi industry Taxi Lekgotla taxis taxi violence Tender Toyota Transaction Capital Transport Transport Minister Transport Month UIF Volvo VW Commercial VW Crafter VWSA Women Women's Month Zimbabwe
Gibela Transport Magazine

GIBELA is a digital and print publication and a premier source of transport news on minibus taxis, aviation, e-hailing, cars, logistic transport, rail, the Gautrain, mobiity-as-a-service, (transport) technology and bus services.

MAIN MENU

  • Home
  • Airports
  • COVID-19
  • Editorial
  • Government
  • Rail
  • Taxis
  • Tenders

SPEAK TO US

  • Contact us
  • Advertise Here

© 2020 All copyrights reserved - Gibela Online Transport Magazine; part of Motho Media & Geko Publishing (Pty) Ltd.

No Result
View All Result
  • Home
  • Landing Page
  • Buy JNews
  • Support Forum
  • Contact Us

© 2020 All copyrights reserved - Gibela Online Transport Magazine; part of Motho Media & Geko Publishing (Pty) Ltd.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?