Black Industrialist Programme receives R30b in pledges
During the SONA debate on Tuesday, Trade and Industry Minister Rob Davies said the recently launched Black Industrialist Programme has already received pledges in excess of R30 billion from development finance institutions.
Minister Davies launched the forum, set up to oversee the applications for the black industrialist programme, in December.
“We have already received applications and I am pleased to be able to say that the funding forum will hold its first meeting next month,” he said.
During his State of the Nation Address, President Zuma said economic transformation and black empowerment remain a key part of all economic programmes of government.
He said one of government’s new interventions is the black industrialist scheme which has been launched to promote the participation of black entrepreneurs in manufacturing.
The President urged big business to partner the new manufacturers, including businesses owned by women and the youth, as part of broadening the ownership and control of the economy.
Minister Davies said during the course of this year, government will be introducing a new Industrial Policy Action Plan, which will cover the actions of this year.
“The higher level of localisation that we have achieved has been achieved in that we now have firms that would have supplied us with imports coming into South Africa investing and producing here.
“But we are not at a point in localisation where we have sufficient local companies, particularly companies that are owned by the majority of this country’s population, that are driving jobs.
“It is for that reason that we have launched a targeted black industrialist programme,” he said.