Hollywood on board with SA’s economic transformation
US companies say the DTI has allayed fears about the foreign film and television incentive programme
On a trip to Los Angeles this week, deputy minister of trade and industry Bulelani Magwanishe allayed Hollywood’s fears about the government’s BEE policy. In a meeting on Friday between the American Motion Picture Association (MPAA), which included officials from HBO, Paramount Pictures, Walt Disney and Fox, and an SA delegation of black filmmakers led by Magwanishe, the deputy minister addressed concerns around the latest iteration of the SA foreign film and television incentive programme. The programme has a requirement to procure a minimum of 20% of qualifying goods and services from entities that are 51% black-owned. However, according to a statement from the department of trade & industry released on Saturday, Magwanishe said he is confident the MPAA is on board after he explained the government’s commitment to economic transformation in SA. Magwanishe said the US companies were under the impression that it would be difficult to find black-owned SA companies. However, “to their...
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