SOUTH AFRICA TO ANNOUNCE SUCCESSOR TO ITS BLACK INDUSTRIALISTS PROGRAMME THIS YEAR

PRETORIA– The Department of Trade and Industry (dti) will announce over the course of the year a successor programme to the Black Industrialists Programme, says Trade and Industry Minister Rob Davies.

Addressing the 5th South African Premier Business Awards (SAPBA) histed by the dti here Tuesday night, he said programme was developed as an intervention to nurture, support and take black industrialists to the next level. We launched the programme that includes an incentive provided by the dti, he said.

The Cabinet approved the Black Industrialists Policy which aligns with the Industrial Policy Action Plan, the National Development Plan and the Nine-Point Plan in November 2015. Giving an update of the programme, which was launched in March 2016, Davies said it had so far supported 78 black industrialists.

We have accelerated the initial target instead of reaching 100 [black industrialists] by the end of March 2019 we decided to accelerate it to reach our target by March of this year. At this point, we have supported 78 black industrialists. We will during the course of the year announce what the successor programme and target will look like, Davies said, adding that the country could be proud of the current 78 industrialists.

The annual awards, which honour business excellence, also have included a black industrialist’s award among its ten categories.

Earlier this month, the dti invited black industrialists to apply to participate in a trade mission to Mozambique. The trade mission will take place from March 5 to 9 as part of the implementation of the programme, which is anchored on three fundamental pillars — access to capital, access to markets and non-financial support.

Source: NAM NEWS NETWORK