Black industrialist drive expedited
Black industrialist programme to gather pace as government aims for 100 projects in coming year
A sharp acceleration in the government’s black industrialist programme is planned for the coming fiscal year as expectations mount for more to be done to radically transform the structure of the economy. The original target of 30 projects per year for the first two years starting March 2016 and 40 projects in the third year — bringing the three-year total to 100 — has been expanded to 100 projects by the end of 2017/18 alone. This will require a big increase in the allocation for the project in the budget to be announced on February 24 by Finance Minister Pravin Gordhan. In his state of the nation address last week President Jacob Zuma emphasised that the black industrialists programme was "critical" to achieve the radical economic transformation required to deracialise the ownership structure and control of the economy. Department of Trade and Industry director-general Lionel October said the black industrialists project would be expanded in the new financial year "because there is...
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