When companies invest in Africa by setting up production facilities here, they contribute far more than just finances, buildings and equipment; they offer their host countries a shortcut into the global mainstream, opening the doors to trade and development on an unprecedented scale.
Louis Meiring.
According to Louis Meiring, CEO of Zest WEG Group, by far the most important aspects of foreign investment are the access to global operations, the transfer of technology and the ongoing training and skills upliftment.
Zest WEG Group is part of the global WEG Group, whose commitment to Africa is evident in its ongoing financial investment in local manufacturing operations. “WEG initiated a programme to uplift the Zest WEG Group facilities to become world class,” says Meiring. “This puts our local manufacturing facilities onto an international platform so our products can be considered for international markets. This is all feasible through technology transfer, as we have the resources to skill and train our staff and our customers as well.
He also emphasises the importance of skilled and regular maintenance to extend the life cycle of equipment, as industrial inefficiencies are often the result of poor maintenance or no maintenance at all. “Part of the investment in skills is to educate those who operate and oversee equipment about the critical nature of proper maintenance. When this change in mindset occurs, we will know we are on the correct path to economic success,” he explains.
One of the most welcome benefits of economic investment is clearly the creation of jobs within the new manufacturing facilities created; however, jobs are also created indirectly. “This is the peripheral knock-on effect of investment, which is equally as important as the direct investment in the facility and the plant and equipment. To ensure that we harness the positive impact of indirect job creation, we also engage in supplier development activities to strengthen our downstream partners and provide access to the economy,” he concludes.
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