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Master of Ceremonies; Chairman and Chief Executive Officer of Mibtek, Mr Michael Mwangi and your dear wife Zinhle; General Manager Mr Ashwin Singh; Board members; Provincial Cabinet Ministers present; members of the Provincial Parliament; ladies and gentlemen.

When people listen to politicians speaking at openings, many become cynical because they feel that it is a routine task which politicians have to perform as painlessly as possible. I would like to reassure you all that my task in welcoming you here today is far from routine. In fact, it is a very significant, indeed a pleasurable occasion.

The province of KwaZulu-Natal is faced with a lot of challenges. Most of the challenges we face are caused by the policies of the past. What worries me most is the danger of a " poverty trap". We experience poverty in a country which has a first world economy. This poses a challenge to the affluent sector of society to contribute meaningfully to community development programmes. The restrictive measures of the past, like Credit Bureau Listings, must clear victims of political violence.

We are anxious about the fate of those small businessmen and women whose investments went down the drain. What a pity that the conventional banking sector does not provide services desperately needed by the emerging business people.

I am extremely pleased that MIBTEK Legal Finance (Pty) Ltd has taken the lead as one of the first and only empowerment financial institutions in the country to truly serve the people. It provides a comprehensive range of financial, legal and business solutions to all people of South Africa, irrespective of race, colour or creed.

Our people long for knowledge, skills and opportunities so that they can contribute in a meaningful way to the promotion of economic development. The government needs private sector partners to accelerate self-empowerment and growth among the previously disempowered sector of society. We will support organisations like Mibtek, which has made this objective to be their primary source of existence.

Like our provincial government, Mibtek also wants to serve all our people. I am told they provide services like Credit Bureau clearance, personal loans, home loans and many other services. Regrettably, many of our conventional banks are either failing or lacking in this area.

This year I have established the Premier's Good Governance and Development Trust so as to mobilise resources to enable people to take ownership of their development projects. More specific information on this initiative will be released shortly. I am now formally inviting Mibtek to join hands with me in ensuring that rural communities are assisted.

This province has tried to create a rehabilitation programme for businesses affected by political violence. The number of affected people is so high that government alone cannot cope. We need to form partnerships with organisations like MIBTEK in order to realise our dream. We must deal with poverty by creating wealth. We must deal with powerlessness through training and education not through protest.

We salute the management of Mibtek for their wise business decision to venture into the least supported field of black economic empowerment.

It gives me great pleasure to officially launch your organisation.

Thank you.

Issued by Office of the Premier, KwaZulu-Natal

3 February 2002