Small businesses‚ military veterans‚ the youth‚ the disabled and sub-contractors will be the biggest beneficiaries of a major revamp of Durban’s economic transformation policies. Buoyed by the national government’s push for economic diversity‚ eThekwini mayor Zandile Gumede announced ambitious, radical economic transformation plans on Wednesday. City and provincial organised business welcomed her plan as a bold step towards changing the economic fortunes of the metro. Gumede launched her plan during the radical economic transformation business summit at the Inkosi Albert Luthuli International Convention Centre in Durban on Wednesday‚ saying a new era of doing business in eThekwini would ensure fairness and transparency. She said her team had ensured the plan was in line with constitutional requirements for municipalities developing local economies and that every project with a contract value between R5m and R30m would have to set aside 30% of the project for sub-contractors. "Sub-co...
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