From Creamer Media in Johannesburg, this is the Real Economy Report.

Sashnee Moodley: To ensure South Africa has the skills required for advanced manufacturing, industry needs to invest in high-end skills, according to National Tooling Initiative Programme CEO Dirk van Dyk. Anine Kilian has the story.

Anine Kilian: Van Dyk says that individual companies needed to work together in this respect, rather than competing with one another.

He also notes that South Africa has a large pool of young people that can be properly skilled to meet the needs arising from the fourth industrial revolution.

To achieve this, the NTIP recently launched the Future Production Technologies Initiative, which is the formal expansion of the NTIP. Van Dyk expands on the inititave.

NTIP CEO Dirk van Dyk:

Anine Kilian: Van Dyk further points out that government has agreed to fund the programme further, through policy frameworks in the Department of Trade and Industry, together with industry, to make increased investments into manufacturing’s future.

He stresses that the programme is not sector specific, and that it is focused on production technologies of the future that will be involved in manufacturing across the board.

He says that NTIP will also integrate the existing skills supply system, including technical and vocational education and training colleges and technological universities. The organization wants to keep them intertwined as a component of a futuristic solution.

He highlights that if the programme is able to produce young people with proper manufacturing competencies, they will be employable instantly.

NTIP CEO Dirk van Dyk:

Sashnee Moodley:

Other news making headlines:

Omnia lifts 2018 profit by 12% year-on-year

JSE-listed Omnia Holdings posted positive results for the financial year ended March 31, with group revenue having increased by 7% year-on-year to R17.37-billion, as a result of a stronger performance by the mining and chemicals divisions.

Omnia CEO Adriaan de Lange

Sashnee Moodley:

That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.