BBC welcomes financial support for Black Industrialists Programme
The Black Business Council (BBC) has welcomed the announcement that R40-billion in financial support will be made available for the Black Industrialists Programme over five years.
“To enhance the growth of black industrialists, we will combine the efforts of the Department of Trade, Industry and Competition, the Industrial Development Corporation and the National Empowerment Fund into a seamless and coordinated programme.
“Over the next five years, we will support an additional 400 black industrialists’ projects with financial support of R40-billion, through identifying sustainable businesses and promoting both industrialists, new enterprise formation and worker involvement in the enterprises,” Trade and Industry Minister Ebrahim Patel said during his Budget Vote speech, in Parliament, last week.
The BBC stated that the Black Industrialists Programme – one of the key elements of broad-based black economic empowerment and socioeconomic transformation – aims to unlock the potential industrialists’ companies in key sectors of the economy through deliberate and well-defined financial and nonfinancial interventions.
“The programme is the brainchild of the BBC and we believe that the extra funding will bring much-needed relief, as well as attempt to solve the biggest hurdles of our members – access to capital and markets,” BBC CEO Kganki Matabane said in a statement on Tuesday.
The BBC noted that it would work closely with Patel and would use the lessons of the initial Black Industrialists Programme to drive improvements, specifically with regard to enhancing the application process.
“Small, medium-sized and microenterprises are the backbone of any economic growth and this fund will go a long way in addressing the triple challenges of poverty, unemployment and inequality,” Matabane concluded.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
