Banks give nod to department’s black industrialists plan
BANKS have put up their hands to be part of the Department of Trade and Industry’s multibillion-rand programme to create 100 black industrialists.The department’s director-general Lionel October appeared before Parliament’s select committee on trade and international relations on Wednesday to talk about the black industrialists policy.He said banks had approached the department, offering support for the initiative.The department side-stepped questions about who would replace Deputy Trade and Industry Minister Mzwandile Masina should he become the African National Congress’s mayoral candidate for Ekurhuleni. Mr Masina has been one of the main campaigners for the programme.Trade and Industry Minister Rob Davies said last week that the scheme had received pledges of more than R30bn from the Land Bank, the Industrial Development Corporation (IDC) and the Small Enterprise Finance Agency.Economic Development Minister Ebrahim Patel said last year that the IDC would spend R23bn to fund blac...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.