News


Samsung bolstering investment in SA’s tech sector

26 April 2022 News

Both globally and locally, there is clear consensus that investment in a country’s technological advancement is intrinsically linked to economic growth. In recognition of this philosophy, Samsung South Africa is spearheading large-scale ICT-driven initiatives aimed at empowering previously disadvantaged South Africans and boosting the economy. This convergence of technology and economic forces is increasingly dictating everything from growth rates and incomes to inflation, as technology is now integrated everywhere in society, affecting how we work, live and play.

In 2019, Samsung South Africa launched its R280 million Equity Equivalent Investment Programme (EEIP), under the Broad-Based Black Economic Empowerment Programme (B-BBEE). This is aimed at strengthening black economic empowerment through enterprise development and ICT capacity development to tackle the triple challenge of unemployment, inequality and poverty.

Creating entrepreneurs to stimulate GDP

As part of its EEIP plan and in collaboration with the Department of Trade, Industry and Competition (the DTIC), Samsung embarked on an initiative to provide opportunities for black industrialists in the recycling sector. Through this initiative, it has become an integral partner in the creation and support of black-owned businesses that can manage and impact waste electronic and electrical equipment (WEEE). Furthermore, this initiative supports the Department of Forestry, Fisheries and Environment’s (DFFE) reduction of waste-to-landfills objective.

Another programme is the development of accredited service centres to provide greater access to electronic repairs for communities residing in townships and peri-urban areas. This is bringing skilled black engineers to under-serviced areas, with sufficient retail footprint to tackle the repair of mobile devices and consumer electronics that are subjected to rapid technological advancement and changing consumer needs. Samsung provides the selected entrepreneurs with grant funding to support their operations, including specialist business development support and access to Samsung’s service repair network.

Driving future success through youth development

South Africa, now more than ever, needs to equip the youth to seize the opportunities that lie in the ICT sector. Samsung recognises that education and beneficiation are the cornerstones of the country’s future and are requirements for it to be a major player in the fourth industrial revolution. The Samsung App factory learnership programme is a good example of how this can be achieved. The programme is geared to bridge the gap between tertiary learning and market requirements for employment. The support and guidance of learners, under the supervision of a mentor in the form of a qualified systems engineer, prepares learners for employment as software developers, as it is commonly known that the industry prioritises candidates with a couple of years’ experience. These skilled interns can be part of driving local economic growth.




Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

Fro the editor's desk: AI – a double-edged sword
Technews Publishing News
As with any powerful tool, AI presents challenges, some of which, if not carefully managed, threaten to undo the potential that it can offer.

Read more...
Global semiconductor sales increase
News
The Semiconductor Industry Association (SIA) has announced global semiconductor sales were $57,0 billion during the month of April 2025, an increase of 2,5% compared to the March 2025.

Read more...
Avnet Abacus announced new president
Avnet Abacus News
Avnet Abacus has announced that Mario Merino will succeed Rudy Van Parijs as president of Avnet Abacus, effective 1 July 2025.

Read more...
Avnet Abacus wins multiple prestigious awards
Avnet Abacus News
The awards from Molex recognise outstanding performance, collaboration, and significant growth in the challenging market conditions of 2024.

Read more...
Components distribution slowdown Q1 2025
News
European components distribution (DMASS) experienced a continued slowdown in the first quarter 2025.

Read more...
Semiconductor sales increase 17% YoY
News
The Semiconductor Industry Association (SIA) recently announced global semiconductor sales were $54,9 billion during the month of February 2025, an increase of 17,1% compared to the February 2024 total.

Read more...
Silicon Labs – Q1 results
News
Silicon Labs, a leading innovator in low-power wireless, recently reported financial results for the first quarter, which ended April 5, 2025.

Read more...
Strengthening industry through strategic partnerships at KITE 2025
Specialised Exhibitions News
The KwaZulu-Natal Industrial Technology Exhibition is not just an exhibition, it is a powerhouse of industry collaboration where visitors and exhibitors gain access to authoritative insights, technical expertise, and high-impact networking opportunities.

Read more...
Solar Youth Project calls on industry to step up
News
With the second cohort completed training and the first cohort returning for their final module, host companies are urgently needed to turn the training into a long-term opportunity.

Read more...
Conlog powers SA’s future with national smart meter rollout
News
Conlog recently secured the RT29-2024 contract from National Treasury, which is seen to be a major milestone towards modernising SA’s utility infrastructure.

Read more...









While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.




© Technews Publishing (Pty) Ltd | All Rights Reserved