Black entrepreneurs still face challenges such as access to infrastructure, finance and markets
Past practices in SA have resulted in excessive concentrations of ownership and control within the economy, and since our first democratic elections in 1994, it has been an imperative to transform the SA economy to promote equal opportunity.
Like most other countries, the fuel industry in SA is considered to be of strategic importance to ensure energy security and economic growth. According to the SA Petroleum Industry Association, the fuel subsector contributes about 8% to the country's GDP, which is about R300bn in production output. There are about 5,000 petrol stations across all brands, creating more than 700,000 direct and indirect job opportunities that make up 5% of total formal employment in SA.
Although the liquid fuels industry is highly regulated with government dictating the petrol price, black entrepreneurs still face challenges such as access to infrastructure, finance and markets. It is important to shape transformation in a holistic manner and to encourage greater market integration, removing obstacles that retard competition and entry into the industry orderly, but swiftly. Businesses are faced with the realisation that transformation is more than just a compliance exercise.
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