The black industrialist programme was introduced in 2015 under then president Jacob Zuma’s administration. It initially set aside R1-billion in the first year to fund 100 black industrialist businesses over three years.
The government has given a report card on its black industrialist programme, which was launched in 2015 to help historically disadvantaged individuals to participate in the economy and ownership of industries.
These figures were revealed by Ebrahim Patel, Minister of Trade, Industry and Competition, on Wednesday on the sidelines of the inaugural Black Industrialists and Exporters Conference held in Sandton, Johannesburg. The programme focuses on expanding South Africa’s industrial capacity while boosting black entrepreneurs and reducing their barriers to market entry. The programme, tied to the government’s Broad-Based Black Economic Empowerment objectives, is also about changing the ownership patterns of South Africa’s economy.
President Cyril Ramaphosa with Trade and Industry Minister Ebrahim Patel at the opening of the first Black Industrialists and Exporters Conference at the Sandton International Convention Centre in Johannesburg on 20 July 2022. Black industrialists are generally offered grants by the department of trade and industry to fund and grow their businesses. And institutions such as the IDC and NEF offer concessional loans to black industrialists – priced at an interest rate 2% below what is normally offered by commercial banks.
One criticism of the programme is that there is a high concentration of entrepreneurs funded in traditional sectors such as agriculture and agro-processing, metals and mining, and other manufacturing – with limited export opportunities for businesses.
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