Slow economy will not mute black industrialist programme, says Rob Davies
The slowdown in manufacturing is not going to slow down the government-backed black industrialist funding scheme, says trade & industry minister Rob Davies. The programme, which is meant to encourage participation of black investors in manufacturing and the mainstream economy, has so far resulted in investment of R11.1bn from 128 projects. "That the economy is not performing does not mean that we can afford to hold back on an essential programmes like this. "The black industrialist programme will be supporting a range of small and medium businesses in the manufacturing space," he said. Speaking on the sidelines of the inaugural black industrialists roundtable dialogue in Pretoria, Davies said the businesses that the programme had supported so far made progress despite the depressed economy and the poor state of manufacturing. Davies was hopeful of a turnaround in the economy, saying the stimulus package that President Cyril Ramaphosa announced in September would yield positive resul...
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