Advertisement
Nestle' has benefited from Section 12I of the Income Tax Act to create 130 permanent positions in Babelegi, Hammanskraal. The Tax Allowance Programme provides relief for companies setting up manufacturing operations and will provide training for the new employees.
Speaking at the dti launch Minister Rob Davies explained that food security is a priority for South Africa. This investment is part of the national strategy to enhance agro-processing and that a number of multinationals are taking advantage of the tax allowances to support their investment in plant and training of employees.
The local area will benefit from the two new manufacturing operations, which will produce the breakfast cereals Milo and Cheerios and MAGGI noodles. In addition to the permanent positions, during the construction programme over a 20 month period, a further 300 indirect positions will be created.
Paul Bulcke, the Global Chief Executive Officer pointed out the long history the company have had in Africa and South Africa and that emerging markets were expected to take up to 50% of global products and services by 2020. So the company is extremely optimistic about growth prospects and will continue to invest in South Africa.
Category