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Government invests R32bn among 800 black industrialists


Government invests R32bn among 800 black industrialists
Job creation and economic development key goals
GCIS-Vukuzenzele > By GCIS-Vukuzenzele - 25 May 2021 - 08:01
Government has invested approximately R32 billion in about 800 black industrialist businesses and black entrepreneurs.
Image: Vukuzenzele
Over the past five years, the government has invested R32bn in about 800 black industrialist businesses and black entrepreneurs through funding initiatives within the department of trade, industry and competition.
“This funding has supported the creation of new and dynamic enterprises in a number of critical value chains across all nine provinces, crowding in additional investment from the private sector. They created and saved nearly 120,000 jobs,” said minister of trade, industry and competition Ebrahim Patel. ....

South Africa , South African , Ebrahim Patel , Cyril Ramaphosa , Industrial Development Corporation , Labour Council , National Empowerment Fund , National Economic Development , Black Industrialist Report , President Cyril Ramaphosa , இப்ராஹிம் படேல் , தொழில்துறை வளர்ச்சி நிறுவனம் , தொழிலாளர் சபை , தேசிய அதிகாரம் நிதி , தேசிய பொருளாதார வளர்ச்சி ,

SA's Black Industrialists Programme gets its first report card


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SA’s Black Industrialists Programme gets its first report card
‘Many lessons learnt’; will be used to make ‘the funding support of government more targeted and efficient’ – Patel.
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Among the outcomes is the exporting of cooler boxes, internal doors, train brake shoes, wine and machine cutting tools. Image: Shutterstock
Some 793 black industrialist businesses have been funded R18 billion over the last five years by the Department of Trade, Industry and Competition (dtic), the National Empowerment Fund (NEF), and the Industrial Development Corporation (IDC) – with 118 572 jobs created/saved. The total approved funding is R32 billion.
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South Africa , South African , South Africans , Ebrahim Patel , Industrial Development Corporation , Business Council , National Treasury , National Empowerment Fund , Black Industrialist Report , Black Business Council , Competition Ebrahim , African Continental Free Trade Area , Economic Reconstruction , Recovery Plan , Industrialists Scheme , Black Industrialists Scheme , இப்ராஹிம் படேல் , தொழில்துறை வளர்ச்சி நிறுவனம் , வணிக சபை , தேசிய கருவூலம் , தேசிய அதிகாரம் நிதி , கருப்பு வணிக சபை , போட்டி இப்ராஹிம் , பொருளாதார புனரமைப்பு , மீட்பு திட்டம் ,

Front firms still faking black ownership – report


Front firms still faking black ownership – report
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Cape Town – 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.
“Fronting 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 ....

South Africa , Cape Town , Western Cape , South Africans , Mlungisi Mazana , Industrial Development Corporation , Gugulethu Business Forum , National Empowerment Fund , Black Industrialist Report , Business Forum , கேப் நகரம் , மேற்கு கேப் , தொழில்துறை வளர்ச்சி நிறுவனம் , தேசிய அதிகாரம் நிதி , வணிக மன்றம் ,