Ramaphosa reveals that R55bn pumped into programmes to support black enterprises

Date:

Ramaphosa reveals that R55bn pumped into programmes to support black enterprises

President Cyril Ramaphosa said that close to 1,000 black business owners had benefitted from the black industrialists and exporters initiative set up by government in 2015.

President Cyril Ramaphosa delivers the keynote address at the Black Industrialists and Exporters Conference taking place at the Sandton Convention Centre in Johannesburg on 20 July 2022. Picture: GCIS.
  • President Cyril Ramaphosa
  • Black Industrialists and Exporters Conference

JOHANNESBURG – President Cyril Ramaphosa said that close to 1,000 black business owners had benefitted from the black industrialists and exporters initiative set up by government in 2015.

This includes aid from the Department of Trade, Industry and Competition, as well as the Industrial Development Corporation and the National Empowerment Fund.

The programme was set up in a bid to ensure greater inclusion and diversity in the economy.

Ramaphosa has addressed delegates at the initiative’s inaugural conference in Sandton.

The initiative forms part of a broader plan to create jobs and independence.

The president said that overall, government had pumped over R55 billion into programmes that support black enterprises.

“And that is not Mickey Mouse money. This is real money that the government has put to good use to support the establishment and the growth of black industrialists, who we are celebrating today,” Ramaphosa said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Cosatu unhappy with Tiger Brands’ decision to close Ashton canning business

Cosatu unhappy with Tiger Brands' decision to close Ashton canning business The trade union federation has called for urgent intervention and wants the company to review the decision and explore alternatives to shutting down the factory. Picture: Supplied. Cosatu Tiger Brands Ashton Email Print Tweet Share Lauren Isaacs | 51 days ago CAPE TOWN - A move

Elon Musk sued for $258bn over dogecoin support

Elon Musk sued for $258bn over dogecoin support An investor in dogecoin, originally created as a joke but whose value increased and fell as it was promoted by Elon Musk, filed a $258 billion lawsuit Thursday against the billionaire and his companies Tesla and SpaceX. Image: Tumisu from Pixabay Elon Musk Dogecoin Email Print Tweet

As fuel prices increase, calls continue for review of Road Accident Fund

As fuel prices increase, calls continue for review of Road Accident Fund The AA's Layton Beard believes the poorly managed Road Accident Fund is costing taxpayers more than is necessary. Picture: Eyewitness News. Road Accident Fund Automobile Association AA Fuel price increases High cost of living Email Print Tweet Share Nokukhanya Mntambo | 58 days ago JOHANNESBURG

Ferrari says 80% of its models will be electric or hybrid by 2030

Ferrari says 80% of its models will be electric or hybrid by 2030 The 2022-2026 plan will be driven by the launch of new products - including Ferrari's first 100% electric car, set to be presented in 2025. FILE: A Ferrari 458 Spider Picture: Pixabay.com Ferrari Electric Vehicles (EV) Email Print Tweet Share AFP | 58