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Money might make the world go round, but it also keeps entrepreneurs up at night. It seems as if there is never enough to realize all those big business dreams. But solid planning and a finance team that knows what they’re doing will see financial struggles turn into success. The finance function as a whole …
A financial gap analysis is a strategic tool that you can utilize to assess the difference between your current financial status, gaps and all, and your desired financial goals or targets. This allows you to see where there are issues that need to be addressed, and should also offer you an actionable roadmap in order …
Proactive financial management is more than just good business practice, it’s a strategic approach that involves anticipating future financial challenges and opportunities, rather than merely reacting to them. Proactive financial management involves a comprehensive approach, encompassing everything from budgeting and cash flow forecasting to strategic planning and careful risk assessment. Unlike reactive management, which deals …
This Easter break, enhance your television viewing experience with breathtaking 4K visuals, vibrant colours, and immersive sound. After a tiring day at work, there is nothing quite like settling in with your favourite snacks and hitting play. For true relaxation, immersing yourself in a new season of your beloved series or a highly recommended movie …
Pay your customs tax!
Taxpayers have been reminded to settle their tax and customs payments as well as their tax and customs debt to the South African Revenue Service (SARS) by or on Thursday this week.
“Tax payments can be made via a bank, electronic funds transfer (EFT), via eFiling or the SARS MobiApp Customs payments can also be made at any SARS customs office.
“It is important that taxpayers and traders perform the payment transaction during business hours to authorise their banking institutions to release the payment to SARS - a required step if the payment is made via eFiling and the MobiApp.
“Balance amount enquiries may be made by requesting a statement of account on eFiling or the SARS MobiApp or by SMS to SARS on 47277,” the revenue service said in a statement.
Employment statistics
Meanwhile, Statistics South Africa’s latest Quarterly Employment Statistics shows a decrease in total employment during the last quarter of 2023.
Despite this, year-on-year December 2022 to December 2023, total employment has increased.
“[According] to the report total employment decreased by 194 000 or -1.8% quarter-on-quarter, from 10 899 000 in September 2023 to 10 705 000 in December 2023. This was due to decreases in the following industries: community services -214 000 or -6.8%, construction -19 000 or -3.1%, business services -12 000 or -0.5%, manufacturing -7 000 or -0.5%, and mining -1 000 or -0.2%. However, there were increases in the following industries: trade 56 000 or 2.4%, transport 2 000 or 0.4% and electricity 1 000 or 1.6%.
“Total employment increased by 98 000 or 0.9% year-on-year between December 2022 and December 2023,” the institution said.
Fulltime employment showed an increase of some 12 000 jobs between December 2022 and December 2023 while part-time employment increased by 86 000 during the same period.
On a quarter to quarter basis, however, downturns were experienced.
“Full-time employment decreased by 5 000 or -0.1% quarter-on-quarter, from 9 498 000 in September 2023 to 9 493 000 in December 2023. This was due to decreases in the following industries: construction -13 000 or -2.4%, manufacturing -12 000 or -1.0%, community services -11 000 or -0.5%, business services -3 000 or -0.1%, and mining -1 000 or -0.2%. However, there were increases in the following industries: trade 31 000 or 1.5%, transport 3 000 or 0.7%, and electricity 1 000 or 1.6%.
“Part-time employment decreased by 189 000 or -13.5% quarter-on-quarter, from 1 401 000 in September 2023 to 1 212 000 in December 2023. This was due to decreases in the following industries: community services -203 000 or -27.2%, business services -9 000 or -3.8%, construction -6 000 or -7.8%, transport -1 000 or 5.3%. Electricity industry reported no change. However, there were increases in the following industries: trade 25 000 or 10.4%, and manufacturing 5 000 or 6%,” Stats SA said. – SAnews.gov.za
NeoB
Tue, 03/26/2024 - 14:23
The Indalo Association’s Stance on Albany Wind Farm: A Call for Comprehensive Evaluation Makhanda, 26 March 2023: In response to recent claims made by EDF Renewables regarding the Albany Wind Farm development, the Indalo Association underscores the need for a thorough and holistic evaluation of the project’s environmental and socio-economic impacts. Statement 1: Scoping & …
Have your say in eThekwini service delivery plan
Residents of eThekwini are invited to submit their comments on the draft Integrated Development Plan (IDP) for the 2024/2025 financial year - a key city strategy that informs and guides all service delivery and development in the region.
All planning, including budgeting, management and decision-making related to delivering services and development in the municipal area, is considered in this important city business plan.
“The IDP considers the challenges facing the city and the strategic approach to resolving these as underpinned by city’s long-term development plan and informed by global, national and provincial policies such as the Sustainable Development Goals (SDGs), the National Development Plan (NDP) and the provincial Growth and Development Strategy,” the municipality said in a statement.
The IDP consists of eight plans that will help the city achieve its vision of becoming Africa’s most caring and liveable city.
“These plans are all inter-related and include actions to develop and sustain our spatial, natural and built environment; develop a prosperous, diverse economy and create employment; and creating a quality living environment.
“The IDP also takes into consideration building a socially cohesive environment, developing the skills of our communities, fostering good governance, ensuring a financially accountable and sustainable city,” the municipality highlighted.
The municipality added that each plan has a set of deliverables which informs the city’s budget and with which its performance is monitored.
“A Service Delivery Budget Implementation Plan (SDBIP) is thereafter compiled to monitor the implementation of the various programmes and projects contained within each plan. The SDBIP provides both financial as well as non-financial performance indicators which are used to monitor and evaluate quarterly and yearly service delivery targets,” the municipality said, adding the document also forms part of the IDP.
The municipality said public consultations on the draft plan will be taking place together with the draft budget.
“It is a critical opportunity for the public to provide input into the future development of the city and make sure that their community needs are raised.”
The draft IDP is available on the municipality’s website: durban.gov.za.
Comments can be sent to comments2021@durban.gov.za
The closing date for comments submission is 23 April 2023. – SAnews.gov.za
GabiK
Tue, 03/26/2024 - 10:07
Traditionally, the Chief Financial Officer or CFO was seen primarily as guardians of the company’s finances, focusing on cost control, budgeting, and financial reporting. However, in today’s fast, digital business environment, the role of the CFO has expanded significantly, and they are expected to contribute to organisational growth, beyond just managing the financials. It involves …
When it comes to hotel development across Africa in 2024, just five words tell the story, “Egypt and the Big 5”. In this context, “the Big 5” does not refer to Africa's major wildlife attractions, (lion, leopard, rhinoceros, elephant and buffalo) but to the global hotel chains – Accor, Hilton, IHG, Marriott International and Radisson Hotel Group. This year's African Hotel Chain Development Pipeline report, widely acknowledged as the industry's most authoritative source, documenting and analysing the number of hotels being planned and built across the continent, reports a market share of 28% for Egypt and 71% for the Big 5 global chains.
The survey, conducted by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF), is based on responses from 47 global and regional (African) hotel chains, reporting on a pipeline of hotel development activity totalling around 92,000 rooms in 524 hotels, in 41 of Africa's 54 countries.
Significant trends to emerge in the past year include strong growth, over 9%, in both North and sub-Saharan Africa, an increase in very large hotels (the average size of the largest 10 hotels is 770 rooms, up from 723 rooms in 2023) and a rapid growth in resorts, up by 32% on 2023. In this respect, Zanzibar has performed particularly strongly. There, the pipeline has grown from seven resorts with 983 rooms in 2023 to 14 resorts and 2,048 rooms in 2024, a sure sign of confidence in these beautiful Indian Ocean islands.
The extent to which Egypt dominates the African hotel development pipeline each year, with almost 26,250 rooms in 109 hotels, is quite remarkable. The country's pipeline, up by 19 hotels and about 5,200 rooms in 2023, is larger than the next four countries put together. It has well over three times the number of rooms as second-placed Nigeria, which has 7,622 rooms in 50 hotels. Third-placed Morocco has 7,169 rooms in 52 hotels and Ethiopia, in fourth place, has 5,128 rooms spread across 31 properties.
There has been an extremely strong increase in the number of resort projects in the pipeline, growing from 24% of the total in 2023 to 30% in 2024. In addition, around half of the rooms in hotels and resorts that opened last year were in resorts. Both Boa Vista (Cape Verde) and Sharm El Sheikh (Egypt) score highly because of the very large average size of the resorts there. The largest hotel in the entire pipeline is a Rixos resort being planned in Sharm El Sheikh, with over 1,800 rooms.
The Big 5 global chains – Marriott International, Hilton, Accor, Radisson Hotel Group and IHG Hotels & Resorts – account for 66% of hotels and 71% of rooms in the entire African pipeline.
Marriott International, the world's largest hotel chain, remains in the lead for the third consecutive year, in a seemingly unassailable position as number one, with almost twice the number of pipeline hotels and rooms as second placed Hilton, and it has the largest number of rooms added in the year.
Looking back at previous years, there used to be a neck and neck race between Accor and Marriott International but, for the second year running, Accor's pipeline has actually decreased, from a high of about 20,250 rooms in 2022 to 13,375 rooms today. Executives say that they are focused on having a “clean and achievable pipeline, rather than numbers for numbers sake”.
Accor's quote highlights a key issue in tracking hotel development in Africa, which is differentiating between hotel projects that are proposed from those that are under construction and from those that have been completed. Typically, the length of time between signing and opening is between four and five years. However, the report identifies 35 projects in the pipeline that are 10 or more years old, including one hotel that was signed 16 years ago.
When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built. It is followed by Hilton (72 hotels, 5,955 rooms), Radisson Hotel Group (35 hotels, 5,748 rooms) and Accor (70 hotels, 3,346 rooms). TUI Hotels & Resorts has charged into the rankings in fifth place with 12 hotels (2,208 rooms) under construction.
As well as looking at deals, which may or may not materialise, W Hospitality Group also looked at who was opening hotels in Africa in 2023, and where. Of the total 29 chain hotels and resorts that opened in Africa in 2023, the split was 10 in North Africa and 19 in sub-Saharan Africa. Of those 19 openings, 11 were in East Africa, including six new hotels and resorts in Tanzania, which had the most openings of any African country. It is clear evidence of the attractiveness of both the mainland and Zanzibar to investors and operators.
Accor came out top of the list for openings last year, and it also tops the number of hotels and rooms opened over the past five years (2019-2023), with 34 hotels opening, comprising around 5,500 rooms.
In terms of “actualisation”, 2023 was an exceptionally slow year. However, that is likely to be offset by a strong 2024, during which the top 10 chains expect to open 139 hotels with 19,122 rooms.
Trevor Ward, Managing Director, W Hospitality Group, said: "Our report contains very positive data, with the pipeline expanding by more than 9 per cent in 2023. This is the largest increase since 2018 and, according to data produced by CoStar/STR, is one of the highest increases globally, surpassed only by the Americas. We look not just at signed deals and their status, but also at the historical actualisation of these deals. This year, we've placed greater emphasis than we have in the past on the actualisation, because if the deals don't become operating businesses, generating profits for the owners and paying fees to the hotel chains, no one's objectives are being met, are they?"
“We're looking forward to some 139 hotels and resorts opening in Africa in 2024, with expectations of a far greater actualisation rate than in recent years, as Africa strives to achieve its fair share of the global hotel industry”.
When one considers existing hotels, as well as hotels in the development pipeline, the continent's current king of the jungle is Accor, with 165 hotels, containing 29,041 rooms, open and trading. Marriott International is in second place, 25,451 rooms in 143 hotels, Hilton is third, 12,525 rooms in 47 hotels and Radisson Hotel Group is close behind with 12,179 rooms in 61 properties. However, if Marriott International delivers all the rooms in its pipeline, it is on course to overtake Accor and become pack leader, with 51,816 rooms in operation.
Matthew Weihs, Managing Director of The Bench, which organises the Africa Hospitality Investment Forum (AHIF), concluded: “The report reveals some very positive trends, including strong growth in new hotel projects, the emergence of high-quality white label hotel operators and governments successfully attracting investment into their tourism industries. All this bodes well for deal-making discussions at AHIF.”
An update to the pipeline development survey, along with in-depth insights, will be presented by Trevor Ward at AHIF, which takes place at the Mövenpick Hotel, Windhoek, Namibia, from 25th – 27th June 2024.
The event is the most influential gathering of hospitality executives in Africa, connecting business leaders and fuelling investment in tourism projects, infrastructure, and hotel development across the continent.
Distributed by APO Group on behalf of Africa Hospitality Investment Forum (AHIF).
Media contact:
For further information and high-resolution images, please contact:
David Tarsh
+44 (0) 20 7602 5262 / +44 (0) 7770 816 070
Email: David@Tarsh.com
About W Hospitality Group:
The W Hospitality Group, a member of Hotel Partners Africa, specialises in the provision of advisory services to the hotel, tourism and leisure industries, providing a full range of services to clients who have investments in the sector, or who are looking to enter them through development, acquisition or other means. In sub-Saharan Africa W Hospitality Group is regarded as the market leader due to the market and financial expertise of its staff, its worldwide knowledge, and its commitment to its clients. In Africa, W Hospitality Group has to date worked in 40 countries on the continent, from its Lagos and Addis Ababa offices.
About the Africa Hospitality Investment Forum (AHIF):
AHIF is the premier hotel investment conference in Africa, attracting many prominent international hotel owners, investors, financiers, management companies and their advisers. It is organised by The Bench (www.TheBench.com), which has a long track record of delivering multiple premium hotel investment conferences and forums across Europe, the Middle East, Africa, Asia and Latin America. The Bench's mission is enabling prosperity by facilitating growth, networking, and thought leadership in the hospitality industry worldwide.
Sponsors of AHIF are Host Sponsor: Namibia Investment Promotion and Development Board (NIPDB); Host Partner: Kasada Capital Management; Platinum Sponsors: ClubMed, Radisson Hotel Group; Gold Sponsors: Accor, Aleph Hospitality, BWH Hotels, CHIC, CityBlue, hansgrohe, IHG Hotels and Resorts, Knight Frank, Kofisit, LEVA, Marriott International. Millennium Hotels and Resorts; Silver Sponsors: Gondwana Collection, HVS, STR, TIME Hotels, TV5Monde; Tuck Shop Sponsor: Profica; Bar Sponsor: Zia Travel Atelier; Exhibitor: MultiChoice Namibia; Networking Sponsor: Talinda; Official Carriers: Discover Airlines, FlyNamibia, South Africa Airways.
Fund launched to empower young tech entrepreneurs
A transformative fund to empower innovators and tech entrepreneurs from higher education institutions was officially launched by the Department of Science and Innovation (DSI) and the United Nations Development Programme (UNDP) on Monday.
The Higher Education Innovation Fund is aimed at students aspiring to become innovators and tech entrepreneurs emerging from Technical Vocational Education and Training (TVET) colleges and universities.
“This will be done through programmes that support general entrepreneurship, ideation, and design thinking,” said Higher Education, Science and Innovation Minister, Dr Blade Nzimande, speaking at the launch in Pretoria.
He informed the audience that the stakeholders aim to fill the gaps in the current set of tools and programmes available to support innovation and technology entrepreneurship nationwide.
“This will be done through, among others, supporting business model development, validation and development of tech-entrepreneurship, support commercialisation, market access and IP [intellectual property] protection, and supporting scale-up and investor readiness.”
According to Nzimande, there is a need for a well-coordinated, integrated and responsive innovation-entrepreneurship ecosystem to support student innovators and tech-entrepreneurship in higher education.
The parties are also looking at sufficiently funding an innovation-entrepreneurship ecosystem and for all partners to back the “ecosystem”.
In addition, the fund also aims to train and up-skill student tech entrepreneurs, who are capable of developing and commercialising competitive innovative products, and to support the establishment and management of sustainable tech-enterprises.
Unemployment
The department said the fund represents a beacon of hope in addressing youth unemployment, inequality, and poverty by fostering the growth of the knowledge economy.
While South Africa grapples with youth unemployment, Nzimande noted a concerning trend of increasing unemployment among graduates, as reported by Statistics South Africa (Stats SA).
He highlighted a few challenges that characterise innovation and entrepreneurship in the post-school education and training (PSET) sector, including poor coordination across the ecosystem, a weak culture of entrepreneurship and innovation, and a lack of support and networks at institutions of higher learning.
He raised concern about students’ limited exposure to entrepreneurial opportunities, mentoring and coaching, and a small number of innovation leaders in TVET colleges.
Another stumbling block, he added, was the lack of early seed funding and incentives.
“These challenges are more acute in TVET colleges and historically disadvantaged universities,” Nzimande said.
Background
The fund’s establishment process began with a Memorandum of Understanding signed between Nzimande's department and UNDP in 2021.
The Higher Education Innovation Fund is provided by the 2019 White Paper on Science, Technology, and Innovation (STI), which according to Nzimande, acknowledges the challenge of high youth unemployment in the country.
“Further to this, our Decadal Plan commits my department to transformation and inclusion of the marginalised, in terms of demographic, institutional and geographical transformation of the National System of Innovation.
“This is why innovation for inclusion is a theme that runs across all chapters of our Decadal Plan and overlaps with many of the Policy Intents of the White Paper on STI,” the Minister explained.
Nzimande’s department and the UNDP are the lead partners, while the Technology Innovation Agency (TIA) recently joined as a co-funder and potential implementer of some programmes and looking for more donors.
“Equally important, in a couple of months, two calls for proposals will be publicised for interested parties with suitable programmes and expertise to apply," said the Minister.
Nzimande said they were looking to grow the Higher Education Innovation Fund to R1 billion.
He also used his platform to invite private sector companies and other funding institutions to come on board and help achieve this objective.
“The Higher Education Innovation Fund is a first for our PSET system and country. Also, this fund has great potential to become a game changer in terms of the production of student innovators and tech entrepreneurs and by extension, helping us to address the interconnected challenges of skills development and youth unemployment.” – SAnews.gov.za
Gabisile
Mon, 03/25/2024 - 12:56
When it comes to parcel delivery, few names resonate on a global scale quite like DPD. The company’s reach, credibility, and the esteemed network it belongs to are nothing short of phenomenal. In this article, we delve into the vast expanse of DPD and its associated companies around the world, unveiling a picture of unmatched …
LG Electronics (LG) has received the Air-Conditioning, Heating & Refrigeration Institute (AHRI) Performance Award for the seventh year in a row. The award underscores the excellence of LG’s heating, ventilation and air conditioning (HVAC) solutions, which continue to set the standard for performance, efficiency and reliability. Founded in 1953, AHRI is a respected international trade …
President Ramaphosa to address 12th Proudly SA localisation dinner
President Cyril Ramaphosa will on Tuesday deliver a keynote address at the Localisation Dinner at the conclusion of the 12th Annual Buy Local Summit at the Sandton Convention Centre in Gauteng.
Hosted by Proudly South African, the Buy Local Summit serves as a platform for a diverse array of locally made products, ranging from small to medium-sized businesses, aspiring entrepreneurs, and government entities to larger corporations to engage with consumers and buyers.
The event emphasises the role of public procurement in driving economic growth by promoting local content, and encourages corporate South Africa to prioritise locally manufactured goods and services.
Building on the success of the inaugural Localisation Dinner held in March 2023, Proudly South African continues to champion the localisation agenda.
This year's dinner will honour companies that have demonstrated commitment to increasing local procurement within their supply chains, aligning with the President's call to bolster local industries.
The Localisation Dinner will also serve as an occasion to generate new pledges and commitments from the private sector and business leaders in attendance. – SAnews.gov.za
Edwin
Mon, 03/25/2024 - 10:16
SevenC, a leading IT infrastructure and network service provider striving to identify and make available the best possible ICT strategies for its clients’ unique needs, explores the unique offerings of specific cloud platforms and how businesses can choose the right one. “Chances are, if you’ve navigated the web or used an app recently, you’ve interacted …
Port Alfred – Just days before the Port Alfred Easter Festival kicks off, here is an update on what is in store over those first few days. The Port Alfred Easter Festival is presented by Sunshine Coast Port Alfred Tourism. Thursday 28th Surfing: Opening Function There will be an opening function at the Royal St …
In today’s economic climate, South Africans are increasingly seeking flexible and accessible financial solutions to meet unexpected expenses or to capitalize on immediate opportunities. One such solution that has gained popularity is securing a loan against one’s car. This financial maneuver can be a strategic move for those in need of quick liquidity without the …
In the evolving landscape of financial solutions within South Africa, the option to “pawn my car and still drive it” emerges as an innovative and highly sought-after avenue for those in need of immediate cash without the inconvenience of losing their mobility. This unique form of loan allows individuals to leverage the value of their …
Welcome to a world where your windows and glass doors transcend their mere functionality and become canvases for creativity. At Window Art, we understand the desire to transform spaces into reflections of personal or brand identity. With our expertise in vinyl frosting, we offer a solution that goes beyond mere decoration—it’s a statement. Why Vinyl …
Pretoria, South Africa – In the ever-evolving landscape of online marketing, achieving visibility on search engines remains paramount for businesses aiming to thrive in the digital realm. Click Results, a leading digital marketing firm based in Pretoria, South Africa, unveils the cornerstone of effective SEO strategies: keyword research and understanding keyword difficulty. Keyword research, often …
Levy Business Park Lusaka, 10101, Zambia- SPJ Electronics, a leading global retailer of home appliances and electronic items, is thrilled to announce the grand opening of its newest store in South Africa. This expansion marks a significant milestone in the company’s journey, bringing its extensive range of products to the South African market at unbeatable …
by Elais Monage the President of the Black Business Council Reflecting on the Black Industrialists and Exporters Conference hosted by the Department of Trade Industry and Competition (DTIC) this week one is left with mixed feelings that while the aspirations of the program are noble, not enough is being done to push the boundaries and …
GQEBERHA: Matthew Breetzke’s half century coupled with another sensational bowling display by Siya Simetu helped the Dafabet Warriors make it five...
President takes Imbizo to Ekurhuleni
Residents of Ekurhuleni will have an opportunity to engage President Cyril Ramaphosa on the pressing matter of service delivery during the upcoming Presidential Imbizo.
The President will lead government’s interaction with communities and stakeholders in Tsakane Township in Gauteng on 11 April 2024 as part of the District Development Model Presidential Imbizo.
This visit will also allow the President and other leaders in government to assess progress made by government initiatives.
Themed "Leave No One Behind”, the Presidential Imbizo promotes participatory democracy and inclusive development by allowing community members and stakeholders to voice proposals and express any concerns or dissatisfaction they may have about conditions in the district or province.
The Imbizo is directed at enabling successful implementation of the “One District, One Plan” District Development Model in which residents, traditional leaders, business formations, organised labour and faith- and community-based organisations work with government across all phases of planning, implementation, and evaluation.
Government Ministers, MECs and the Mayors in the Ekurhuleni municipality are expected to conduct several community outreach activities ahead of the Presidential Imbizo. – SAnews.gov.za
nosihle
Fri, 03/22/2024 - 09:54
Black industrialists part of a broader journey of social, economic transformation
President Cyril Ramaphosa says government, private sector stakeholders and civil society have come together to create an enabling environment for black industrialists to thrive.
“By working hand in hand, we have been able to dismantle barriers, foster mentorship and provide access to markets, funding and resources essential for business growth and sustainability,” President Ramaphosa said.
Addressing the Black Industrialists and Exporters Conference at the Sandton Convention Center on Wednesday, the President said the journey of black industrialists is part of the broader journey of social and economic transformation in South Africa.
“This is evident in the fact that South Africans are living longer than ever before. Life expectancy has increased from 54 years in 2003 to 65 years in 2023. Maternal and infant deaths have declined dramatically,” President Ramaphosa said.
President Ramaphosa said households that resided in formal dwellings increased sharply from 65 percent in 1996 to more than 88 percent in 2022.
“Access to electricity for lighting has increased from 58 percent of households in 1996 to nearly 95 percent in 2022. The percentage of persons aged 20 years and older who completed secondary education more than doubled from 16 percent in 1996 to more than 37 percent in 2022.
“Our economy has tripled in size since 1994, and while unemployment still remains high, the number of South Africans in employment increased from eight million in 1994 to over 16.7 million now.
“The proportion of jobs in executive management held by black people increased almost five-fold between 1996 and 2016,” President Ramaphosa said.
President Ramaphosa said the progress points to the work the country has undertaken to give effect to the constitutional injunction to promote the achievement of equality.
“And to give effect to the core goals of that legislation, government formally launched the black industrialist programme in 2016,” the President said.
President Ramaphosa said the impact of the investment by the black industrialists is clear from more than R100 billion in turnover generated by these businesses each year and by more than 100 000 direct jobs sustained in their factories, mines and farms.
“Over the course of the last five years, we have worked to deepen these efforts. At the start of this administration in 2019, we began to develop master plans in different sectors of the economy, ranging from clothing to sugar, from autos and steel to poultry.
“These masterplans have specific and dedicated sections dealing with the promotion of black industrialists. The black industrialist programme itself has also gone a long way in promoting meaningful participation in the economy by women, youth and persons with disabilities.
“We need to scale up the number of black industrialists that are supported directly by government through various forms of support, including finance, regulatory measures and partnership arrangements through masterplans,” President Ramaphosa said.
He added that the Department of Small Business Development has supported large numbers of micro and small businesses. – SAnews.gov.za
Edwin
Wed, 03/20/2024 - 15:40