Forty Cape Town-based small and medium manufacturers in the clothing, textile, footwear and leather (CTFL) sector this week took part in a financial management workshop as part of the City-funded Cape Acceler8 programme.
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The initiative, hosted and administered by the Cape Clothing and Textile Cluster (CCTC), is aimed at helping local manufacturers strengthen the business foundations needed to grow and compete.
The programme is now in its second year and supports businesses through a structured development process that combines leadership training, technical skills development and core business management support.
According to the City of Cape Town, the CTFL sector remains a key employer in the local economy.
“The CTFL sector is one of Cape Town's most important engines of economic activity, employing over 17,000 people across the city,” says mayoral committee member for economic growth Alderman James Vos.
He says the programme is designed to help participating businesses strengthen their operations and expand employment opportunities.
After completing an executive development phase focused on supply chain dynamics and customer expectations, the cohort has now moved into the capacity-building stage of the programme.
This phase includes four masterclasses aimed at strengthening operational and commercial capabilities.
The financial management workshop focused on topics such as financial statements, cash flow management, cost pricing and profitability, as well as using financial information to guide day-to-day business decisions.
Vos says the initiative is also intended to support businesses in areas that historically face barriers to growth.
“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,” he says.
