GOVERNMENT COMMITS TO FAST TRACKING THE DEVELOPMENT OF BLACK INDUSTRIALISTS

GOVERNMENT COMMITS TO FAST TRACKING THE DEVELOPMENT OF BLACK INDUSTRIALISTS

The Minister of Trade and Industry, Dr Rob Davies, has outlined government’s commitment to deracialise the economy through the accelerated development of Black Industrialists. He indicated that government has committed financial resources and support to expand and upscale support for Black Industrialists. The commitment was made during the two-day Black Industrialists Indaba held in Midrand from 25-26 March 2015.

The Indaba served as a consultative platform with key stakeholders on the Black Industrialists Development Programme led by the dti and championed by the Deputy Minister of Trade and Industry, Mr Mzwandile Masina. The Programme outlines key measures such as access to finance, access to markets, skills development, and standards, quality and productivity improvement to primarily support black manufacturing companies.   

Speaking at the closing session of the Indaba today, the Minister of Trade and Industry, Dr Rob Davies said the department would avail R1 billion in incentives support for the Programme.

Davies further indicated that the country’s path to economic prosperity should continue to be anchored on the twin imperatives of industrialization on the one hand, and economic inclusion of which the Black Industrialists Development Programme is an important pillar.

Commenting on the recommendations of the delegates to the Indaba, Davies indicated that the dti will study the recommendations and do its best to implement those that are within the jurisdiction of the department. On the second day of the Indaba, three commissions were set up, namely Access to Finance, Access to Markets and State Procurement, and Policy and Skills Development.

The recommendations from the commissions included the following:

§  A committee comprising government and the private sector and comprising experts be established to explore more ways and instruments to accelerate the implementation of the Black Industrialists Development Programme,

§  Review of the Preferential Public Procurement Act,

§  Setting up the black majority threshold at 75% for companies qualifying for the Programme,

§  Skillsdevelopment should be at the Centre of the Programme.