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Cabinet welcomed Ford Motor Company of South Africa’s (FMCSA) production of the next-generation Ford Ranger, an investment of R15.8 billion.
As a result, all 10 auto component manufacturing companies located in the Tshwane Automotive Special Economic Zone (TASEZ) officially started operations at full capacity.
This follows Ford Motor Company of South Africa starting production of the next generation Ford Ranger on November 14, 2022.
“Investment by component manufacturers amounted to R3.62 billion and created 1,259 permanent jobs benefiting youth (76%) and women (32%),” Presidency Minister Mondli Gungubele said at a post-cabinet briefing on Thursday.
TASEZ was established as a special purpose vehicle manufacturing zone with the mission of creating employment opportunities and promoting the economic participation of small, medium and micro enterprises in the region.
The aim of this first phase of development was to create additional infrastructure and capacity in the FMCSA supply chain to help South Africa be one of only three hubs in the world to produce the next generation Ford Ranger.
TASEZ is a company established in May 2020 through a first-of-its-kind intergovernmental agreement between the Department of Trade, Industry and Competition (dtic), the Gauteng Department of Economic Development and the City of Tshwane.
TASEZ’s mandate is aligned and effectively derives from the South African Government’s national strategies, in particular the new Special Economic Zones (SEZ) approach approved by Cabinet in 2019.
(Based on a South African government press release)
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