Three transformative years: Samsung’s multi-million rand Equity Equivalent Investment Programme is going the distance

This story is sponsored

Samsung’s landmark R280-million Equity Equivalent Investment Programme (EEIP), launched in May 2019 in partnership with the Department of Trade, Industry and Competition (Dtic), is now marking three years of sustained success.

The 10-year Samsung plan is aimed at addressing key developmental aspects linked to the National Development Plan (NDP) and overall transformation of the economy. These include Black Industrialisation through E-waste recycling, enterprise development, and capacity building in ICT through scarce skills development. 

Three years in, has Samsung’s EEIP programme risen to the challenge of achieving its ambitious goals? The simple answer is — remarkably well. At the onset, Samsung created a team dedicated to the identification of the most beneficial and far-reaching projects. The implementation of the programmes has produced far-reaching, measurable outcomes that may have even surpassed initial projections. This includes: 

  • An R87-million investment contribution, with the bulk of the investment channelled into enterprise development and black industrialisation to support black-owned and black-women-owned enterprises. The beneficiaries were part of a rigorous selection criteria to ensure they could maximise the capital they needed for business operations and future growth. With environmental sustainability a major focus of Samsung’s business, two black-women-owned E-waste businesses were supported. With skills development essential to combating youth unemployment, two Software Development enterprises were supported. To provide marginalised communities with better access to electronic repair services and encourage entrepreneurship, two Accredited Service Centres were launched. 
  • Through a well-considered and integrated approach, Samsung partnered with universities and SETA-accredited training providers to train 390 software developers and accredited technicians to enhance their prospects of employment.  This addresses a key need in the South African ICT sector and has resulted in a marked increase in female software developer graduates. Increasing female representation in ICT training is ultimately vital to reverse the market trend of lower representation in this sector. 
  • With employment as a fundamental component of Samsung’s EEIP plan, direct job creation and the placement of 154 programme beneficiaries has been achieved. Through Samsung’s partner network, opportunities for employment are continually sourced. 

As Samsung enters its second phase of EEIP, investment in the socio-economic development of South Africa and its people will continue unwaveringly. Expansion of the programme to provinces beyond the initial focus on Gauteng and Western Cape will extend to smaller economically active provinces to improve reach and impact. Through its investment, the Samsung EEIP aims to deliver measurable impact and a lasting legacy.

About Mail & Guardian Sponsored Stories

The Mail & Guardian’s sponsored stories are produced in association with paying partners. If you would like to speak to our team about producing and publishing high quality content on our site, please contact us at this email address.

Related stories

Your M&G

Hi , To manage your account please click here.

You can access your digital copy of this week’s paper here.

Advertising

Today's top stories

‘Incredible growth’ in rooftop solar in South Africa

Rising electricity prices, power outages, increasing awareness of the need to reduce greenhouse gas emissions and decreasing solar technology costs are driving the rooftop solar market in South Africa

Will Ramaphosa act decisively on the Zondo report?

The president’s tendency to avoid confrontation with his own party means we must maintain public outrage to ensure an end to state capture

Lights, camera, action!

Meet Kuda Jemba, the emerging film director who went from directing music videos for some of SA’s biggest stars to directing Kelly Khumalo’s upcoming reality show

Is the US supreme court bent on doing harm?

Two recent rulings by America’s apex court are profoundly troubling

War on diamonds: Toil and triumph on the rich barren...

“I’m willing to take a bullet” says Northern Cape natives who claim the land, and its diamonds, belong to them.
Advertising

press releases

Loading latest Press Releases…

×