EAST LONDON, SOUTH AFRICA – Yekani Manufacturing has shut the doors on its 301,389 sq. ft. smart factory and faces liquidation, according to reports.
Some 500 workers have reportedly lost their jobs.
Yekani launched here in June 2018 and was poised to be a local option to outsourcing electronics manufacturing. The EMS provider built a smart factory with eight SMT lines, but reportedly has failed to make repayments on bank loans of R200 million ($14 million).
The firm primarily built PC and consumer products.