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Website: www.kaundadistrict.gov.za, Civic Center, Patmore Road, Orkney

 

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To: Editors, Assignment Editors, & Journalists

 

DR KKDM and Tsori Capital secures R25million for eight Co-operatives.

 

Dr Kenneth Kaunda District Municipality is in the process of facilitating the establishment of manufacturing and agricultural initiatives owned and managed by cooperatives within the region. This effort targets the inclusion of youth, women and people with disabilities to play a key role in the mainstream economy. Amongst the projects identified under this initiative is the waste sorting and baling plant, which already has approval from council.

 

The project entails the establishment of a sorting and baling plant in Klerksdorp and also 41 ward based buy back centers throughout the district. This project will benefit 64-cooperatives and communities within the district and set to create 328 direct jobs, 200 indirect whilst absorbing 600 reclaimers that are on site at a number of landfill sites across the district.

 

Indirect job opportunities will be in the form of spin-offs created via logistics for transporting waste from the buy-back centers to the sorting and baling plant. Communities will also be allowed to sell their household waste directly to the project. Neopak Recycling (formerly Nampak) has entered into an official agreement to provide necessary training to the co-operatives involved whilst also buying all the baled waste.

 

The land for the milestone project has been made available by the Dr. Kenneth Kaunda District Municipality and all its local municipalities in City of Matlosana, Tlokwe, Ventersdorp and Maquassi Hills. Tsori Capital has been appointed by the District Municipality as its transaction advisor to assist in the development of a concept document for this project; discussion with funders Small Enterprise Finance Agency (SEFA); the review of information provided by the District Municipality amongst others.

 

Executive Mayor of the Dr. Kenneth Kaunda District Municipality, Councillor Boitumelo Moloi says this co-operatives program is a further expression of South African Government’s resolve to eliminate indigence and advance the inclusion of all people to participate in the economy of the country. “As a trendsetting institution, we have taken a decision to champion the creation of job opportunities for our youth, women and people with disabilities. This program is aimed at shoring up VTSD areas to fall in line with the North West Provincial Government’s vision of reawakening the economic strength of villages, townships and small towns.”

 

Member of Mayoral Council responsible for Economic Development and Tourism, Councillor Ntombi Koloti believes the project will industrialise and diversify the region’s economy. “We do hope that these co-operative owned businesses will grow and be major players in the economy of South Africa. As the district we are giving them all necessary support to ensure that they own and operate sustainable businesses. We want to thank SEFA for its quick turn-around in processing this waste management project transaction.”

 

Executive chairman of Tsori Capital Lita Mbokhoto said this historic initiative will go a long way in defining the approach that local government should pursue to eradicate poverty within its multiple constituencies. The DR KKDM is leading by example. For a long time, the funders have been complaining that there are no viable projects to fund and on the other hand, Small Micro Medium Enterprises are complaining tha they are not being funded. This clearly demonstrated that there is a deal structuring gap to meet the requirements of the funders within the market. The commitment we have received from the DR KKDM ensures that this deal structuring gap is closed. We do hope that other municipalities will adopt the same approach and aggression in creating job opportunities within their communities.”

 

The official launch will be held in Dawkensville in Klerksdorp, City of Matlosana on Friday, November 6, 2015. The milestone event is scheduled to commence at 06h00 am.

 

For More Information please contact: Chief Of Staff, Zandisile Mweli on Tel: 018 473 8009 or Cell 071 434 8782; e-mail @ This email address is being protected from spambots. You need JavaScript enabled to view it.

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