R107m Steenbras Dam scheme upgrade in the works to help Cape Town ease loadshedding polity.org.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from polity.org.za Daily Mail and Mail on Sunday newspapers.
Almost two-thirds of township businesses have been forced to shed jobs because of load shedding, according to a new report. Business owners say the situation is even more dire – they face closing if the power outages continue.
Front firms still faking black ownership â report
Share
Cape Town â Challenges posed by front companies that misrepresent their true shareholders by falsely claiming black South Africans as owners continues, the first annual Black Industrialist Report highlighted.
The report, released by the Department of Trade, Industry and Competition (DTIC), provides details of approximately 100 black industrialists and entrepreneurs who have been supported by the National Empowerment Fund (NEF), and the Industrial Development Corporation (IDC), with case studies covering a range of productive sectors including food production; clothing and textiles; and mining metals machinery equipment, among others.
âFronting practices continue in which companies misrepresent the position of true shareholders and beneficiaries by falsifying black South Africans as owners. In some cases, black-owned firms have lent and continue to lend their names to tender documents, while the work is done by