President Cyril Ramaphosa recently met with the Black Business Council. He discussed South Africa’s economy with the business leaders. Several government ministers also attended.

They talked about problems facing the economy. And they discussed ideas to improve the economy for black people and women. 

Since the end of apartheid almost 30 years ago, the government has tried to help black people economically. Policies were made to support black workers and business owners. The government also spent money to give basic services, houses, education and grants to millions of black South Africans.

The Black Business Council president, Elias Monage, said he was happy with a new law being made. This law will help black businesses get more government contracts.

After the meeting, it was decided working groups will be formed. These small groups will focus on:

– Helping the economy grow in ways that help black people

– Funding for small black-owned businesses

– South Africa’s electricity supply

– Improving transportation

– Making the government better at its job

The first update from these working groups will come in March 2024.

The president said the government is working hard to fix electricity problems quickly. It is also trying to fight corruption and crime. The leaders said good progress is being made overall to support black business and job growth.