Capital Equipment News February 2020

Metric Automotive empowers women in engineering

Working to embrace the spirit of transforma- tion and development, Metric Automotive Engineering has affirmed its Level 4 status in terms of Broad-Based Black Economic Empowerment (B-BBEE) requirements. In an exciting recent deal, the Intomba- zane Development Trust has invested in the Germiston-based specialist in diesel and gas engine component remanufacture. The new shareholder recognised the value in the company, including its continuous investment in latest technology and its commitment to the local economy. The Intombazane Development Trust also appre- ciated the company’s strong ethos of skills development. The involvement of the trust will further enhance this important work, by supporting the entry of black women into engineering fields through study bursaries. “It is gratifying to see our interventions uplifting previously disadvantaged candi- dates, focusing on learners at tertiary level,” says Andrew Yorke, operations director at Metric Automotive Engineering. “The skills they are learning are vital to the South Af- rican economy, and will certainly transform their lives for the better.” Yorke highlights the importance of genu- Foreign investor interest in Africa continues to rise, supporting major construction proj- ects in the infrastructure, commercial and industrial space across the continent. Lead- ing data and analytics company GlobalData expects ongoing investments, especially in the transport, telecommunications, energy and utility sectors, will support growth in new infrastructure in Africa. Yasmine Ghozzi, Economist at GlobalDa- ta, comments: “In the latest of the ‘Africa Plus One’ Summits, the UK-Africa 2020 Summit, total commercial deals amounted to US$8,5-billion. This will help deliver quality infrastructure investment in member countries to spur economic growth.” At the summit in January, it was revealed that the UK will partner with some of the fastest growing countries in the region in terms of construction output such as Egypt, Ethiopia, Ghana, Kenya and Uganda to develop a rich pipeline of infrastructure projects that are attractive to businesses and investors. Ethiopia is set to continue to record the fastest pace of growth in construction out- put over the next five years, with GlobalData predicting growth of 11,2%, driven by higher public spending on infrastructure and higher foreign direct investment. It also expects

ine transformation initiatives by the private sector to fill gaps in the market and support economic growth. This means training historically disadvantaged individuals in areas where their academic success can be rewarded by employment and personal growth in productive jobs. “There is no time for window-dressing while our economy struggles to create the necessary opportunities for young people,” he says. “We are embracing the real spirit of B-BBEE, which is not to empower individ- uals who already have access to opportu- nities, but rather to give a chance to those who haven’t had an opportunity before.” He emphasises that the beneficiaries of the recent deal are previously disad- vantaged women. Through the company’s training initiatives, it is furthering the opportunities that exist in fields like the local remanufacturing of large engine components. Metric Automotive Engineering has long been a leader in diesel and gas engine com- ponent remanufacture, leveraging the latest technology and decades of experience in this sector. With its Level 4 B-BBEE status, customers receive 100% spend recognition

Andrew Yorke, operations director at Metric Automotive Engineering.

for any work they procure with the company. Its modern workshop facilities are equipped for a range of testing, grinding, reprofiling, reboring, surfacing and other specialised engineering services. Work is conducted on large diesel and gas engine components including cylinder heads, cylin- der blocks, crankshafts and conrods. Com- pete engines are overhauled and assembled in-house, and are dyna-tested on one of the company’s three dynamometers.. b

Foreign investment will spur economic growth in Africa

GlobalData expects ongoing investments to support growth in new infrastructure in Africa.

growth momentum to be sustained in Kenya in 2020 at 6,5%, thanks to healthy domestic demand. Construction in Ghana is expected to recover in 2020, expanding by 2%, having dropped by 2,5% in 2019. The economy is projected to grow 6,8% in 2020. The summit comes at a suitable time for an economy like South Africa as it is on a path to attract more than US$83,2-billion (R1,2-trillion) in

investment over five years. Ghozzi adds: “The UK can play a signifi- cant role in bridging Africa’s huge infrastruc- ture gap. The continent’s US$68-US$108 billion infrastructure investment gap per year is massive and so infrastructure investment opportunities in African countries are lucra- tive. The summit comes at a time with Brexit moving things into sharper focus. With the

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CAPITAL EQUIPMENT NEWS FEBRUARY 2020