FNB to help government bolster black industrialists
The bank will help improve access to finance, Trade and Industry Minister Rob Davies says, to create new role-players in the economy
SA needs to move towards a more industrialised and transformed economy, Trade and Industry Minister Rob Davies says.The Department of Trade and Industry and FNB have pledged to fast-track economic transformation for black industrialists through the black industrialists scheme.The scheme is an incentive programme to support black-owned manufacturing companies by improving access to finance and markets, as well as offering skills development and productivity improvement.FNB would help make the department’s schemes and funding platforms more accessible, Davies said on Tuesday, at an event at the Hyatt in Rosebank to mark the signing of a memorandum of understanding between the bank and the department on the black industrialists scheme."This partnership will improve access to finance particularly for businesses in manufacturing, thus ensuring government’s strategic objective of creating new role-players in the economy.""Through this programme, government hopes to contribute towards shif...
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