Capital Equipment News November 2017

BUSINESS

Caterpillar recently inaugurated its new 60 000 m² parts distribution centre in Kempton Park, near Johannesburg, South Africa.

ENABLING LOCAL ENTERPRISE DEVELOPMENT In one of its largest investments in Africa to date, Caterpillar has launched a record-breaking Equity Equivalent Investment Programme (EEIP) in conjunction with the South African Department of Trade and Industry, representing the largest ever EEIP initiative in South Africa, writes Munesu Shoko .

I n a clear demonstration of its long-term commitment to South Africa, Caterpillar has launched an Equity Equivalent In- vestment Programme with the Department of Trade and Industry (dti), which pledges to localise a cumulative R1,3 billion (about US$90 million) of component content over the next 10 years, representing the largest programme of this type in South Africa to date. The investment forms part of the pre-

viously announced plan of Caterpillar, its independent dealers and the Caterpillar Foundation to invest more than US$1 bil- lion in countries throughout Africa over five years. The EEIP is a dti initiative for multination- al companies that are unable to relinquish shareholding to contribute towards their Broad-Based Black Economic Empower- ment (B-BBEE) obligations. The dti’s Codes

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