KZN BUSINESSWOMAN ON A FRENCH MISSION

KZN BUSINESSWOMAN ON A FRENCH MISSION

Daisy Sosibo, a KwaZulu-Natal businesswoman says she is looking forward to her forthcoming trip to France because she is confident that it will have a positive impact on her business. Sosibo will be one of the businesspeople who will be travelling to France as part of the Outward Investment Mission that has been organised by the Department of Trade and Industry (the dti). The mission takes place from 15-19 September 2014.

The Minister of Trade and Industry, Dr Rob Davies says the Outward Investment Mission initiated due to the rapid changes in innovation & technology to manufacture rail components. South African rail manufacturing value chain has experienced capacity and capability gaps in complying with some of the specific localisation requirements in supplying some of the strategic rail components to Transnet and PRASA.

The Outward Investment Mission will use this platform as a tool to attract foreign direct investment in this sector and provide an opportunity for the South African businesses to form potential Joint Ventures (JV’s) and partnerships.

“As a company, it will be for the first time that we are afforded an opportunity to travel overseas on an outward investment mission like this one. We are excited because it will enable us to network with other businesspeople in France and promote our business. We are hopeful that the networking opportunity will bear fruit and result in us getting an investor or partner who will assist us grow and sustain our business,” says Sosibo.  

Her company, Inmotion Rail Engineering, which she co-owns with her daughter, specialises in the refurbishment of EMU exhausters, repair of turbines, pumps and wheels, supply of metro coach components, overhauling of metro trains, manufacturing of spare parts and precision machining. At the moment, they have secured a contract of repairing the underframes of the Passenger Rail Agency of South Africa’s (Prasa) Metrorail trains. They have also previously worked with Transnet.

Sosibo could be one of the small businesspeople who could benefit from the R847bn that the South African government planned to invest over the next three years on a multibillion-rand Infrastructure development drive to meet the demands of a growing economy and population.

The government as a key contributor has highlighted railway sector as part of the strategic sector under the Presidential Infrastructure Coordinating Commission (PICC) to South Africa's competitiveness in global markets. It’s regarded as a crucial engine for economic growth and social development, and the government has unveiled plans to improve the country's passenger and freight railways.