KZN businesses embrace fourth industrial revolution

KwaZulu-Natal businesses are showing a growing interest in the fourth Industrial Revolution (4IR).

This is according to Nisaar Mahomed, a sector specialist in the knowledge economy and green economy at Trade and Investment KZN (TIKZN).

Mohamed said that he had noticed a growth in proposals for 4IR at TIKZN, a trade and  investment promotion agency that promotes the province as an investment destination and facilitates trade by helping local companies access international opportunities.

"In the past two to three years that I have been in Trade and Investment KZN, we have seen a huge number of proposals coming in through various channels for things that are looking into 4IR-related projects," said Mahomed.

He was speaking as a panelist at the 2019 Business Day breakfast in partnership with Ithala and the provincial department of economic development tourism and environmental affairs. The panel discussion looked at the empowerment of small, medium and micro-sized enterprises (SMMEs) for the 4IR.

Mahomedwas joined on stage by the economic development MEC Sihle Zikalala who urged South Africans to get behind 4IR before it is too late.

"Instead of only viewing this 4IR and being denialists, let us embrace it and ensure that we explore its positive advantages that are arising there and participate in it because if we deny and want to ignore this development we will suffer," he said.

Mahomed said forum discussions aimed at addressing the power of 4IR projects for small and micro enterprises have paved the way for funding proposals that involve the use of  nanotechnology.

"Four years ago they [nanotechnology proposals] would have gone straight to Gauteng for funding, so the one good thing is that the more we talk about this in KZN the more people are interested," said Mahomed.

Other panelists included Makhosazana Ngiba, CEO and founder of Makhophila Training Academy, a skills, training and development academy, who highlighted the importance of involving small-to-medium businesses in government policy making around 4IR issues.

Global speaker and author Alex Granger was the fourth panelist who urged people to get involved in the digital transformation.