Trade and Industry Minister Rob Davies told the B-BBEE Commission that true economic transformation would take place only when more black people were able to exercise true business ownership.
Durban - More economic transformation would take place in South Africa when more black people were able to exercise true business ownership powers, said Trade and Industry Minister Rob Davies on Thursday.
The 2019 conference explored black ownership and particularly major black ownership transactions – defined as transactions amounting to R25 million or more. The value of the B-BBEE transactions reported in 2017 and 2018 was around R115-billion, said the commission. These elements had been incorporated into the new B-BBEE scorecards, he said. The intention with the incorporation was to “develop and nurture” new black business owners.
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