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Government intervenes to retain jobs
​(Right to left) Economic Development, Tourism and Environmental
Affairs MEC Sihle Zikalala, eThekwini Mayor Zandile Gumede and
Industrial Development Corporation Chief Executive Officer Geoffrey
Qhena assess work done by one of the Glodina employees who was
retained following government’s intervention to revive the
manufacturing company which had closed down.

ONE of South Africa’s largest towels manufacturing company, Glodina, has resumed its operations in
Durban’s Hammarsdale area after government’s intervention which has resulted in the retention of more than 200 jobs.

On 6 November, MEC for Economic Development, Tourism and Environmental Affairs Sihle Zikalala accompanied by eThekwini Mayor Zandile Gumede and Industrial Development Corporation (IDC) Chief Executive Officer Geoffrey Qhena, officially opened the manufacturing company after its closure due to financial challenges.

MEC Zikalala said the KwaZulu-Natal government intervened in Glodina’s turnaround programme to avoid the devastating effects of the manufacturing company’s closure on the economy of the region. “We had extensive engagements with the management and shareholders of Glodina to understand the nature of the challenge, and working together, we devised mitigation strategies,” he explained.
As part of the intervention, a multi-stakeholder task team was established.

The IDC approved a funding package of R150 million for an IDC-owned entity to acquire the assets from the previous owner, a move that resulted in the factory resuming its operations. MEC Zikalala said the new entity has committed itself to the retention of more than 211 jobs of the 500 jobs lost when the company closed down. “We have no doubt that the number of jobs will increase exponentially as the company gradually regains its previous customers,” he said.

Mayor Gumede commended government’s bold move to revive the manufacturing company to secure the livelihood of the employees. “Christmas has come early for the people of Hammarsdale and surrounding areas.”

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