Black industrialists: numbers target on track, official says
THE government is confident it will meet its target of supporting 30 black industrialists in the first year of the roll out of the multibillion-rand programme, which kicked off at the beginning of the year. So far 22 applications had been approved for investments of R1.4bn, with the combined support of government and its entities valued at R700m, Department of Trade and Industry chief economist Stephen Hanival said on Tuesday. The Industrial Development Corporation, the Land Bank and the Public Investment Corporation would take part in the project, which aims to speed up the growth of black industrialists involved in the productive sectors. Grant funding only represented about R200m of the support, with the rest of the package being made up of loan facilities at subsidised interest rates for working capital, Hanival said. The aim of the black industrialists programme is to set up 100 black industrialists over the medium term: 30 this year, 30 next year and 40 in the third year. Four...
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