Transformation fund | R100bn set aside for black businesses

R100 billion set aside for black businesses 1/4
0 seconds of 1 minute, 58 secondsVolume 90%
Press shift question mark to access a list of keyboard shortcuts
Next Up
R100 billion set aside for black businesses 3/4
01:44
00:00
01:58
01:58
 

LONDON - The Department of Trade, Industry, and Competition has unveiled plans to establish a R100-billion Transformation Fund which aims to advance South Africa’s constitutional commitment to economic redress and inclusive growth.

WATCH | SA govt proposes transformation fund

By targeting black-owned businesses, the fund seeks to address the Apartheid legacy of economic exclusion and to promote more broad-based participation in the country’s economy.  

Director at Transcend Capital , Shaun Smit, said there is the potential for misuse of funds for corrupt activities.

"It is really a concern the DTCIU mentioned that this maybe a public partnership working with National Empowerment Fund," he said.

You May Also Like