This week, 40 Cape Town-based small and medium manufacturers in the clothing, textile, footwear and leather (CTFL) sector took part in a Financial Management Fundamentals workshop as part of the City-funded Cape Acceler8 programme, hosted and administered by the Cape Clothing and Textile Cluster.
The programme is in its second year and is designed to strengthen the foundations that allow local businesses to grow and compete at the next level.
Alderman James Vos, the City’s Mayoral Committee Member for Economic Growth, addressed the workshop’s attendees, highlighting their critical role as employers in manufacturing.
‘The CTFL sector is one of Cape Town’s most important engines of economic activity, employing over 17 000 people across the city. Cape Acceler8, through the targeted and practical approach taken by CCTC, takes participating businesses through a sequenced five-phase programme, combining leadership development, accredited technical training and core business fundamentals. Boosting businesses with these tools gives them the ability to grow and, importantly, to employ more Capetonians,’ said Alderman Vos.
Having completed the executive development phase – which orients business owners to supply chain realities and customer expectations – the cohort has now entered the capacity-building phase, which comprises four practical masterclasses that target the operational and commercial foundations of their businesses.
This week’s Financial Management Fundamentals workshop aims to support participating manufacturers in translating their operational efforts into financially sustainable business practices.
The workshop will cover financial statements, cash flow management, cost pricing and profitability, and using financial information to support day-to-day business decisions.
‘Supporting the businesses that anchor this sector – and helping them grow – is central to how we build a more inclusive and competitive local economy. Cape Acceler8 is exactly the kind of initiative the City wants to enable: structured, practical, and focused on giving manufacturers the tools to take the next step up.
‘With 60% of this cohort drawn from Cape Flats-based businesses, this programme reflects our commitment to ensuring that growth in Cape Town reaches the people and places that stand to benefit most,’ said Alderman Vos.
