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Cabinet welcomed the production of the next generation Ford Ranger by Ford Motor Company of South Africa (FMCSA), which saw a capital investment of R15.8 billion.
This resulted in all 10 auto component manufacturing companies located in the Tshwane Automotive Special Economic Zone (TASEZ) officially entering full operations.
This follows South Africa’s Ford Motor Company starting production of the next-generation Ford Ranger on 14 November 2022.
“Investment by component manufacturers amounted to R3.62 billion and created 1,259 permanent jobs benefiting youth (76%) and women (32%),” Minister in the Presidency Mondli Gungubele said in a post- cabinet briefing on Thursday.
TASEZ was established as a special purpose vehicle production zone with a mandate to create job opportunities and promote economic participation for small, medium and micro enterprises in the region.
Its first phase of development is specifically aimed at creating additional infrastructure and capacity within the FMCSA supply chain to support South Africa becoming one of only three hubs in the world to produce the next generation Ford Ranger.
TASEZ is a company established in May 2020 through a first-of-its-kind intergovernmental agreement between the Department of Trade, Industry and Competition (the dtic), the Gauteng Department of Economic Development, and the City of Tshwane Metropolitan Municipality .
TASEZ’s mandate is aligned with and effectively born out of the South African government’s national strategies, particularly the new Special Economic Zones (SEZs) strategy approved by Cabinet in 2019.
(With Inputs from South African Government Press Release)
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