R100bn support planned for black industrialists

Government has has set a target of R100 billion to support the Black Industrialists Programme. This was announced by the deputy minister of trade and industry, Mzwandile Masina, when he addressed delegates at the two-day annual Manufacturing Indaba in Kempton Park this week.

The programme was launched by Masina in Johannesburg in August last year and aims to create 100 black industrialists in the next three years who will participate in the productive sectors of the economy as part of government’s radical economic transformation programme.

“Through this programme, we want to address the issue of inequality within the economy and inclusion of black entrepreneurs, particularly in the productive sector of the economy. We are already establishing relationships with suppliers and banks are starting to approach us,” said Masina

In implementing the programme, Masina said fronting and misrepresentation would not be tolerated. Government would look into activating compliance courts to address such irregularities, he added.