Private sector to fund R100bn Transformation Fund
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GUEST – Duma Gqubule is research associate at the Social Policy Initiative
The South African government plans to establish a R100 billion Transformation Fund to foster economic transformation by supporting black-owned businesses and Small, Medium, and Micro Enterprises (SMMEs). This initiative, outlined by Minister of Trade, Industry, and Competition Parks Tau in a recent parliamentary Q&A, will be financed through private sector contributions in alignment with Broad-Based Black Economic Empowerment (B-BBEE) regulations and other mechanisms under the Competition Act.
The South African government plans to establish a R100 billion Transformation Fund to foster economic transformation by supporting black-owned businesses and Small, Medium, and Micro Enterprises (SMMEs). This initiative, outlined by Minister of Trade, Industry, and Competition Parks Tau in a recent parliamentary Q&A, will be financed through private sector contributions in alignment with Broad-Based Black Economic Empowerment (B-BBEE) regulations and other mechanisms under the Competition Act.
