BLACK INDUSTRIALISTS
Department of trade & industry makes BEE-line for change
The department of trade & industry (DTI) is putting a lot of effort into its black industrialist incentive programme to achieve what black economic empowerment policies failed to do — genuine and sustainable transformation. According to the department, black industrialists are black South Africans who own and, through significant shareholding, control an enterprise whose products are significantly used and have significant impact on decent employment and create broad-based economic opportunities. Trade & industry minister Rob Davies said the criteria to get into the government-sponsored programme are tight. "We demand that you are actually in a business that is in the industrial space. It must be a black-owned, managed and operated business," he said.
Davies said the black industrialist programme will correct the shortcomings of the country’s BEE policies "where what passed as BEE was that somebody did a deal in somebody else’s company. They often borrowed money to acquire som...
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