Durban remains one of Africa’s most active general cargo port of entry and exit, and with it comes increasing demand for cargo handling and warehousing services. In response to the demand, and support to this industry, KZN Growth Fund provided R63.4 million in debt funding to iDube Cold Storage (Pty) Ltd to help establish a 8 500 pallet multi-temperature cold storage facility at Dube Trade Port. The facility is designed to handle both chilled and frozen perishable products.
Our funding to the entity is also in support of the black industrialist programme, as 50% of the company’s shareholding is in the hands of previously disadvantaged individuals. A medium term intention is to allocate 10% of the shares to employees drawn from BEE qualifying groups.
A total of 300 employment opportunities will be created by the facility, with 50 of these permanent.
