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You are here: Home / Archives for South Africa

South Africa

14 September 2023

Adcock Ingram and Food & Trees for Africa Join Forces to Launch “Greening the Path” Initiative in the Eastern Cape

Location: MyPR

14 September 2023 – The Eastern Cape, renowned for its rich biodiversity and natural beauty, has long been home to hundreds of bird and tree species. However, the region has faced significant challenges due to pastoral activities, habitat destruction, deforestation, and overgrazing, resulting in the loss of many valuable species. Recent research indicates that half …

Read moreAdcock Ingram and Food & Trees for Africa Join Forces to Launch “Greening the Path” Initiative in the Eastern Cape
14 September 2023

Labour Appeal Court clarifies the requirement for a claim of constructive dismissal based on mental ill health

Location: MyPR

By Yonela Sicam, Senior Associate, Bowmans South Africa On 17 August 2023, in the matter of Sanlam Life Insurance Ltd v Mogomatsi and Others the Labour Appeal Court (LAC) found that an employee who alleges constructive dismissal based on mental ill health must prove that the employer knew or ought to have known of the …

Read moreLabour Appeal Court clarifies the requirement for a claim of constructive dismissal based on mental ill health
14 September 2023

Are we winning the battle against fraud?

Location: MyPR

Are we winning the battle against fraud? Significant work has been done to address the impact of fraud and scams on the South African consumer. However, it is still pertinent to take a step back and ask if we are winning any major battles regarding addressing this challenge. Statistics South Africa (StatsSA) recently released a …

Read moreAre we winning the battle against fraud?
14 September 2023

Load Shedding Doesn’t Stand A Chance Against Cloud Power

Location: MyPR

SevenC, a leading IT infrastructure and network service provider striving to identify and make available the best possible IT strategies for its clients’ unique needs, delves into why cloud power remains undefeated by load shedding. As load shedding continues to challenge businesses and individuals alike, there emerges a beacon of hope and efficiency: cloud computing. …

Read moreLoad Shedding Doesn’t Stand A Chance Against Cloud Power
14 September 2023

ASA Cross Country Championships

Location: MyPR

Athletics SA, EP Athletics and the Nelson Mandela Bay Municipality will be hosting the ASA Cross Country Championships this Saturday, 16 September, at the Nelson Mandela University Sport fields. The best of South Africa’s Cross Country runners, ranging in age from 8 years to over 80 years, and covering distances from 2km to 10km, will …

Read moreASA Cross Country Championships
14 September 2023

MANCOSA looks to address the AI skills shortage as it offers a South African first

Location: MyPR

MANCOSA looks to address the AI skills shortage as it offers a South African first In line with the Fourth Industrial Revolution and the movement from localised job markets to a global job market, technology is having a significant influence on the future world of work, with artificial intelligence taking centre stage when it comes …

Read moreMANCOSA looks to address the AI skills shortage as it offers a South African first
14 September 2023

Silicosis: diagnosing the disease beyond the grave

Location: News

Q(h)ubeka Trust finds way to pay out widow of miner in spite of lack of medical records

Read moreSilicosis: diagnosing the disease beyond the grave
14 September 2023

Silicosis: 68-year-old mineworker gets compensation payout months before he dies

Location: News

Q(h)ubeka Trust winds up after paying out R420-million in compensation following court settlement with employers

Read moreSilicosis: 68-year-old mineworker gets compensation payout months before he dies
13 September 2023

SA’s injury statistics are not accurate, experts warn

Location: News

South African Medical Research Council says death notification form must be changed

Read moreSA’s injury statistics are not accurate, experts warn
13 September 2023

Government, labour plaster cooperation to uplift economy

Location: News

Government, labour cement cooperation to uplift economy

Government and organised labour have agreed to work much more closely to speed up efforts for a more inclusive economy, job creation, and addressing poverty and inequality. 

President Cyril Ramaphosa, Ministers and leaders of organised labour [COSATU, FEDUSA, NACTU and SAFTU] met virtually on Tuesday in a bid to address the immediate challenges that confront South Africa’s economy. 

 
The Presidency said this agreement is critical to accelerate efforts to deliver lasting and sustainable progress in building an inclusive economy, creating jobs and tackling poverty and inequality. 

The meeting discussed, amongst other issues, the immediate measures needed to unblock economic growth and create employment. Participants agreed that urgent steps must be taken to deal with low growth and the unemployment crisis.

According to the Presidency, organised labour committed to working with government to end load shedding and achieve energy security, improve the efficiency of the freight logistics system, reduce violent crime and protect economic infrastructure.

Representatives from organised labour raised several related issues including the current fiscal situation, the structure of the economy, State-owned enterprises (SOEs), strengthening public services, tackling crime and corruption, local government and providing economic and social relief, particularly to poor South Africans.

“Given the scale of the challenge, we require support from all social partners to urgently accelerate the implementation of government’s plans and drive additional interventions.

“While there is encouraging progress, the energy shortfall remains the single biggest constraint to economic growth. We need to accelerate and expand our efforts even further, not only to overcome the immediate crisis, but to fundamentally reform our energy sector and ensure that we never face such a shortfall again,” President Ramaphosa said.

Organised Labour Overall Convenor, Gerald Twala, welcomed the engagement and expressed hope that it will be the beginning of further discussions on various measures to grow the economy, create jobs, rebuild the State, and tackle crime and corruption.

“Labour is deeply concerned about the variety of crises affecting our SOEs, municipalities, government, the economy and workers. They require decisive action to resolve them. It is critical these interventions are directed towards the fundamental causes of our many challenges, and that they uplift the poor and protect the hard won rights of workers. Measures must capacitate the State to deliver quality public services, unlock economic growth and set the nation on a sustainable path,” Twala said.

The meeting agreed that addressing unemployment and poverty is an immediate imperative that will improve social and political stability, creating a virtuous cycle that supports growth.

The Presidency emphasised the opportunity to build on existing interventions with proven track records of success, including the Presidential Youth Employment Intervention, the Presidential Employment Stimulus, the Youth Employment Service and the SME Fund.

The Presidency further highlighted the need to expand and scale these initiatives through wider engagement to drive participation and uptake, as well to identify regulatory, policy and other measures to support and grow SMMEs, and unlock job creation at scale.

President Ramaphosa and labour leaders agreed that further in-depth engagement is needed to fully address the issues raised. A follow-up in-person meeting will soon be convened to build on Tuesday’s discussion. – SAnews.gov.za

DikelediM
Wed, 09/13/2023 - 09:47

602 views
Read moreGovernment, labour plaster cooperation to uplift economy
13 September 2023

President expresses sadness at natural disasters in Libya and Morocco

Location: News

President expresses sadness at natural disasters in Libya and Morocco

President Cyril Ramaphosa has expressed sadness at the two natural disasters that have claimed close to 8 000 lives collectively and displaced tens of thousands of residents in eastern Libya and Morocco. 

More than 5 000 people have died due to floods associated with Storm Daniel in eastern Libya, while more than 2 000 people died in an earthquake last weekend in the Atlas Mountains in Morocco.

On behalf of the Government and people of South Africa, President Ramaphosa expressed that South Africans felt the pain and loss by citizens of both countries. 

“South Africa shares the pain and loss felt by the people of eastern Libya and Morocco. These disasters highlight once more the frailty of life when confronted with the forces of nature,” President Ramaphosa said. – SAnews.gov.za

 

 

DikelediM
Wed, 09/13/2023 - 13:20

455 views
Read morePresident expresses sadness at natural disasters in Libya and Morocco
13 September 2023

DubeRanx announces modern e.p ‘Love and Afrobeats: A Public Display of Affection’

Location: Entertainment, MyPR

DubeRanx, the South African-born musician, is thrilled to announce his upcoming e.p ‘Love and Afrobeats: A Public Display of Affection’. The highly anticipated e.p, which features the incredibly talented Lars P and Ayanda, will be available for release on the 22nd of September 2023 under the record label ‘031 Records’. Known for his unique blend …

Read moreDubeRanx announces modern e.p ‘Love and Afrobeats: A Public Display of Affection’
13 September 2023

FUTURELIFE® and Nelson Mandela Foundation Celebrate Propitious Collaboration

Location: MyPR

Building a Brighter Future for Vulnerable Children through a New ECD Centre Diepkloof, KwaZulu-Natal: FUTURELIFE®, in a landmark partnership with the Nelson Mandela Foundation, is delighted to announce the successful establishment of the Mfundwentle Pre-school, an Early Childhood Development Centre in Diepkloof, Kwazulu-Natal. This momentous achievement comes a year after the launch of the initiative …

Read moreFUTURELIFE® and Nelson Mandela Foundation Celebrate Propitious Collaboration
13 September 2023

Food inflation remains high: EFPM report

Location: News

Food inflation remains high: EFPM report

The latest edition of the Essential Food Pricing Monitoring (EFPM) report, released by the Competition Commission on Wednesday, details how inflation has come down, but food inflation remains at nearly twice the inflation rate for all goods and services.

The report also highlights comparative trends in grocery retailer margins to global peers. It shares evidence of ‘rocket and feather’ [retail prices go up like ‘rockets’ after an increase in wholesale costs but fall like ‘feathers’ after a decrease] effects in maize meal, cooking oil and bread, and provides an in-depth overview of the beef value chain in South Africa.

The Commission said it is actively monitoring essential food prices and investigating the factors driving food inflation.

“This ensures transparency regarding the profit margins set by producers and retailers of these products. With upstream commodity prices declining in the first half of 2023, the Commission is now focusing on how quickly this translates into lower prices for consumers,” the Commission said in a statement.

However, this report indicates that these price drops have not consistently resulted in reduced producer or retail prices or have been delayed in doing so, noting that producers and retailers face other cost pressures.

The Commission noted that competition authorities in Canada, Ireland and the United Kingdom recently published reports on the state of grocery retail competition in these countries in light of high food inflation.

“These reports assess trends in retail profits over the past three to four years. When comparing their findings to South Africa, we notice that local retailers are much more profitable than their counterparts in these countries. This could be due to various factors, including differences in the level of competition.

“Additionally, in some markets like the UK, retailer margins are decreasing, as discounters gain prominence, while in South Africa, margins increased between 2019 and 2022 before a recent decline primarily attributed to load shedding costs.

“This edition of the EFPM report also provides an overview of the work that has been done by other researchers, who have found evidence of the rocket and feather effect in local staple food value chains reviewed, where prices rise quickly during inflationary periods and decline slowly when inflation subsides,” the Commission said.

Various explanations have been proposed for this phenomenon, with the key concern being the potential dysfunction of competition.

The EFPM includes an update on recent pricing trends and margins at the producer and retail level for sunflower oil, bread, maize meal, and individual quick frozen (IQF) chicken pieces.

Key findings of the EFPM include:

  •  Bread and wheat prices (lagged three months to reflect the time to feed into producer stock) fell by approximately 10% during the first quarter of the year but producer and retailer prices for bread both rose by 3% in this period, and only started to drop in the second quarter of the year.
  •  White maize prices (lagged three months) have fallen consistently and by 23% since February but producer and retail prices for maize meal have yet to decline.
  •  Cooking oil prices have been on a declining trend since a year ago when the EFPM report indicated that producer prices were rising, despite sunflower seed prices remaining stable in South Africa.

However, while retailers cut their margins during the period of rising prices, they have been slower to reduce prices, resulting in expanding margins. More recently, sunflower seed prices (lagged three months) have dropped but producer prices have still not responded.

As noted in the previous EFPM Report, IQF chicken price inflation remains lower than food inflation. The Commission will continue to monitor this value chain following the re-imposition of anti-dumping tariffs.

Some of the large food companies have recorded large revenue increases as a result of price increases, rather than volume growth, the Commission said.

Some producers have indicated that load shedding costs have not had a material impact on their businesses, except for poultry producers.

Beef value chain

This EFPM report takes a closer look at the South African beef sector, a crucial component of the country’s economy and diet, finding that it is becoming increasingly concentrated, with more companies vertically integrating across several points of the value chain.

The number of commercial cattle farmers has more than halved in the last 10 years.

The top 10 cattle feedlots account for almost 70% of cattle, up from 50% only six years ago. Feedlots are increasingly integrated into abattoirs and the top 10 slaughtered close to 50% of cattle.

During 2023, weaner calve prices declined substantially, which has resulted in lower prices for beef carcasses too.

However, the retail price for beef cuts collectively has not declined this year, resulting in the retailer share reaching 40% of the shelf price, the highest share since January 2021.

The complete report can be found on the Commission's website at: https://www.compcom.co.za/wp[1]content/uploads/2023/09/EFPM-Report_Sep-2023_publication.pdf. - SAnews.gov.za

Edwin
Wed, 09/13/2023 - 14:40

251 views
Read moreFood inflation remains high: EFPM report
13 September 2023

What is a Spill Kit? Navigating the World of Spill Kits

Location: MyPR

In industrial settings, laboratories, and numerous other environments, accidental spills are not just inconvenient—they can pose significant health, safety, and environmental risks. Enter the spill kit. A lifesaver in many emergency situations, spill kits are specially designed to contain and clean up various types of spills efficiently. But what exactly is a spill kit, and …

Read moreWhat is a Spill Kit? Navigating the World of Spill Kits
13 September 2023

Oil and gas imperative for SA’s energy security

Location: News

Oil and gas imperative for SA's energy security

The Department of Mineral Resources and Energy (DMRE) will “sustainably continue to develop” South Africa’s oil and gas resources in order to ensure energy security and alleviate dependency on foreign oil.

This is according to Mineral Resources and Energy Deputy Minister, Dr Nobuhle Nkabane, who was speaking at the Southern Africa Oil Gas Conference on Wednesday.

“It is imperative to accelerate the exploration of oil and gas both onshore and offshore, as having our own petroleum resources will reduce our dependency on foreign oil and cushion our economies, in particular our citizens against imposed whirlwinds of crude price volatility,” she said.

The Deputy Minister said South Africa has already initiated policy intervention processes to boost the development and growth of the country’s oil and gas industry.

“The first intervention is the development of the Gas Master Plan which is a policy that outlines and guides the critical role of gas in South Africa while providing policy direction to the gas industry.

“We have also developed the Upstream Petroleum Development Bill seeking to ensure that the upstream petroleum sector is no longer regulated under the Mineral and Petroleum Resources Development Act, 2002 (MPRDA), but under discrete petroleum legislation. We believe the de-coupling of the Upstream Petroleum Development Bill from MPRDA will bring regulatory certainty and hopefully shore up investor confidence,” Nkabane said.

Natural gas

Deputy Minister Nkabane highlighted that natural gas in one the key components in South Africa’s Integrated Resource Plan (IRP) 2019 and accounts for at least 3% of the country’s energy supply.

She explained that natural gas can also contribute to South Africa’s quest to lower emissions output.

“[The] continued exploration and discovery of indigenous gas is crucial for meeting our climate change targets and securing of energy supply,” she emphasised.

Nkabane highlighted that the recent discovery of maiden gas reserves in Mpumalanga represents a “major boost in electricity generation capacity as the country was looking at different sources of energy”.

She urged countries that have discovered gas to ensure these reserves not only serve international appetite but also contribute to energy security in local communities.

“Mpumalanga is the epicentre of South Africa’s power generation because [it] has a high concentration of power stations, therefore the discovery of gas positions the province at the centre of the just energy transition and as a source of reference for the country’s emission-reduction targets.

“We have also seen that Europe is looking to Africa to diversify its gas supplies. This presents a good opportunity and market for local gas beyond our own use. However, the caveat is that we should not rush to export our gas to Europe at the expense of our domestic and regional markets, no matter how tempting the prospects of earning foreign revenue.

“The argument often advanced is the lack of transmission infrastructure and unaffordability of gas products for local communities. My counter argument is that we are not going to change this situation if we do not use the revenue earned from gas exports to develop … our economies to create employment opportunities that will lead to consumption of goods and services,” she said.

Nkabane also called on African countries to increase ties in oil and gas trade between themselves.

“Already, South Africa imports the bulk of its crude requirements from African producers, including Nigeria and Angola. There is ample opportunity for a massive expansion of gas trade, especially from the Gulf of Guinea and the broader West Coast of Africa, where we have many producers and some already exporting. We collaborate closely with the African Petroleum Producers Organisation and urge more meaningful engagement with this continental body.

“As a region we should strive to build a strong oil and gas sector that will drive regional and continental economic development as is the case with the advanced economies,” Nkabane said. – SAnews.gov.za

 

NeoB
Wed, 09/13/2023 - 14:53

124 views
Read moreOil and gas imperative for SA’s energy security
13 September 2023

Advocate Mkhwebane removed from office

Location: News

The Presidency: Republic of South Africa
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President Cyril Ramaphosa has, in accordance with Section 194(3) (b) of the Constitution, removed Advocate Busisiwe Mkhwebane from the Office of the Public Protector on the grounds of misconduct and incompetence.

The removal of Advocate Mkhwebane follows the National Assembly (NA) debate and vote on the Section 194 committee report, which found Adv. Mkhwebane to have misconducted herself and that she was incompetent.

The National Assembly resolved with the requisite two-thirds majority that Advocate Mkhwebane be removed from the Office of the Public Protector for misconduct and incompetence.

Section 194(3)(b) of the Constitution of the Republic of South Africa stipulates that when the National Assembly adopts a resolution for the removal of the Public Protector, the President “must” remove the Public Protector from the office.

Accordingly, President Ramaphosa has informed Advocate Mkhwebane of the action to remove her from the Office of the Public Protector.

Distributed by APO Group on behalf of The Presidency: Republic of South Africa.

Read moreAdvocate Mkhwebane removed from office
13 September 2023

Apple Music’s Amaqhawe Champions South Africa’s Biggest Musical Legends This Heritage Month

Location: Entertainment, MyPR

Apple Music is shining a light on Mzansi’s greatest musical legends with its latest campaign, Amaqhawe (meaning “hero” in Xhosa, and “legend” in Zulu). In honour of the country’s rich musical legacy and Heritage Day on 24 September, Amaqhawe celebrates the musical legacies of the South African musicians whose sounds influenced and continue to inspire …

Read moreApple Music’s Amaqhawe Champions South Africa’s Biggest Musical Legends This Heritage Month
13 September 2023

Ramaphosa expresses sadness at natural disasters in Libya and Morocco

Location: News

The Presidency: Republic of South Africa
Download logo

President Cyril Ramaphosa has, on behalf of the Government and people of South Africa, expressed his sadness at two natural disasters that have claimed close to 8 000 lives collectively and displaced tens of thousands of residents in eastern Libya and Morocco.

More than 5 000 people have perished due to floods associated with Storm Daniel in eastern Libya while more than 2 000 people died in an earthquake last weekend in the Atlas Mountains in Morocco.

President Ramaphosa said: “South Africa shares the pain and loss felt by the people of eastern Libya and Morocco. These disasters highlight once more the frailty of life when confronted with the forces of nature.”

Distributed by APO Group on behalf of The Presidency: Republic of South Africa.

Read moreRamaphosa expresses sadness at natural disasters in Libya and Morocco
13 September 2023

Rediscover Heritage And History In The Elgin Valley

Location: Entertainment, MyPR

South Hill Vineyards is embarking on a captivating journey filled with history and culture this Heritage Day, the 24th of September 2023, with a special Braai Day celebration. As you enjoy your Braai, be intrigued as you delve into stories that have shaped this estate into the beauty that it is today. National Braai Day …

Read moreRediscover Heritage And History In The Elgin Valley
13 September 2023

Mashatile to host Vietnamese Vice President on Official Visit to SA 

Location: News

Mashatile to host Vietnamese Vice President on Official Visit to SA 

Deputy President Paul Mashatile will on Friday host Vietnamese Vice President Vo Thi Anh Xuan on an Official Visit to South Africa. 

The Official Visit, according to the Presidency, occurs within the context of the commemoration of 30 years of diplomatic relations between South Africa and Vietnam.

The aim is to reinvigorate and further strengthen the ties of friendship and solidarity between the two countries to consolidate the multifaceted partnership. 

“South Africa and Vietnam enjoy friendly and constructive relations grounded in a shared history of struggle for freedom and common values supportive of the agenda of the Global South. 

“The Official Visit presents an opportunity to highlight the excellent relations between the two countries and to foster closer ties with the government and people of Vietnam,” the Presidency said.

Bilateral mechanisms between the two countries include the inter-governmental partnership forum for economic, trade, scientific, technical and cultural cooperation and the joint technical committee. 

These, according to the Deputy President’s Office, serve as a vehicle to review bilateral relations and identify priority areas for technical cooperation.  

Total bilateral trade between South Africa and Vietnam amounted to R23.8 billion in 2022, with the trade balance in favour of Vietnam.   

The focus areas for discussions between the two governments will include trade, investment, promotion of agricultural products, market access, higher education, mineral resources and energy.

The leaders will also talk about regional and multilateral issues. 

The Deputy Ministers of Foreign Affairs, Industry and Trade, Agriculture and Rural Development, Planning and Investment, Education and Training will accompany Vice President Xuan. 

She will also be joined by senior government, senior leaders of the Communist Party of Vietnam and a business delegation. – SAnews.gov.za
 

Gabisile
Wed, 09/13/2023 - 13:22

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Read moreMashatile to host Vietnamese Vice President on Official Visit to SA 
13 September 2023

IYF Celebrates Women In Tech – Skills For Success Is Changing The Gender Landscape In Information Technology

Location: MyPR

Digital technologies have created new spaces for interaction and enabled new ways to connect, share experiences, work and build communities. It is estimated that by 2030 in Sub-Saharan Africa alone more than 230 million jobs will require digital skill sets. The Information and Communications Technology (ICT) sector has always been a male-dominated industry. In 2022, …

Read moreIYF Celebrates Women In Tech – Skills For Success Is Changing The Gender Landscape In Information Technology
13 September 2023

Labour dept reaches out to job seekers in Limpopo

Location: News

Labour dept reaches out to job seekers in Limpopo

The Department of Employment and Labour’s Public Employment Service (PES) unit in Limpopo is today launching a series of community outreach programmes targeted at work seekers in the Capricorn District Municipality. 

The outreach sessions begin today at Maikhutsong Crèche in Paledi Ga-Thoka. 

According to the department, the sessions are aimed at enriching youth in the Capricorn District Municipality with valuable information for job hunting, making informed career decisions, and pursuing training and development opportunities.

Career Guidance Coordinator, Emmanuel Ravhudzulo, said the primary objective of these sessions is to assist job seekers with information that will enhance their career insights and bolster their employability through a range of job hunting skills programmes covering aspects such as CV writing, interview preparation and work ethics.

During these sessions, unemployed job seekers will receive comprehensive support and guidance on various strategies to secure employment or access skills development opportunities, and will also be registered on the Employment Services of South Africa (ESSA) database for possible future employment. 

"We are dedicated to helping individuals who find themselves at a career crossroad and are unsure about their next steps, whether it involves embarking on their initial career journey, advancing in their current profession, or exploring new career paths,” Ravhudzulo said. 

Work seekers are encouraged to bring along their CVs to the sessions.

The outreach will take place according to the schedule below:

Village

Date

Venue

Contact Person

Contact No

1.    Paledi Ga-Thoka

13  September 2023

Maikhutsong Crèche

Mary Jane Sehlapelo

072143 7324

2.    Masekoleng & Tjatjaneng

14 September 2023

Tribal Office

Mr Raseoana

079 306 3570

3.    Nobody

18 September 2023

Church TBC

Mr Legaseane  Mothapo

082 711 5338

4.    Moremadi

20 September 2023

Tribal Office Moremadi

Mr Senona

071 550 3689

5.    Makgwareng

21 September 2023

Mokgalatladi Hall : Kgorong

Mr Matome Mametja

076 352 8460

6.    Megoring

29 September 2023

Makgongoana Secondary School

Mr Moloto

072 711 3533

7.    Ga Makanye

29 September 2023

Mogafe Café

Mr Abraham Mohale

079 090 8462

 

- SAnews.gov.za

DikelediM
Wed, 09/13/2023 - 10:08

204 views
Read moreLabour dept reaches out to job seekers in Limpopo
13 September 2023

Minister briefs Parliament on the Black Industrialists policy

Location: News

Minister briefs Parliament on the Black Industrialists policy

Trade, Industry, and Competition Minister Ebrahim Patel has highlighted the significant strides achieved by the Black Industrialists Policy within the food and energy sectors.

The transformative policy, initiated in 2015, is reshaping South Africa's economic landscape by nurturing new enterprises led by black South Africans.

Briefing the Portfolio Committee on Trade, Industry and Competition on Tuesday, Patel said historically transformation policies primarily focused on facilitating black ownership in existing enterprises.

However, the Black Industrialists Policy centres on promoting the development of new enterprises, fostering entrepreneurship and ensuring the emergence of businesses controlled by previously marginalized groups.

During the briefing, Minister Patel presented 46 case studies of Black Industrialists across the country in the food and energy sectors.

The evolution of empowerment policies over time has broadened their scope. Initially, they centered on individual share ownership, enabling capital accumulation among black South Africans. Subsequently, they embraced broad-based empowerment and community initiatives.

Today, the policy prioritises Black Industrialists, supporting individual black entrepreneurs with controlling stakes in new firms and employee share ownership (workers empowerment).

Minister Patel underscored that the Black Industrialists Policy is just one pillar of a broader transformation agenda.

Other transformation instruments include industrial financing, sector master plans, localization, competition measures, B-BBEE codes, equity-equivalent investment programs, special economic zones and state preferential procurement.

The Black Industrialists Policy spans various industries, including agro processing, automotive components, textiles, steel and metal fabrication, mining, machinery and equipment, aerospace equipment and technology.

"The Black Industrialists Policy represents a pivotal shift in South Africa's transformation strategy. It fosters new enterprise development, entrepreneurship, and economic inclusion while addressing historical disparities and promoting innovation,” Minister Patel said.

“The policy's impact on the food and energy sectors underscores its significance in driving South Africa's economic transformation,” the Minister said. – SAnews.gov.za

 

Edwin
Wed, 09/13/2023 - 10:11

132 views
Read moreMinister briefs Parliament on the Black Industrialists policy
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