Ramaphosa headlines black industrialists conference, spotlighting economic transformation

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Ramaphosa headlines black industrialists conference, spotlighting economic transformation

President Cyril Ramaphosa will deliver the keynote address at the Second Black Industrialists and Exporters conference on Wednesday, March 20, 2024, at the Sandton Convention Centre in Johannesburg. This event aims to acknowledge the contributions of black industrialists to the economy while reflecting on the progress made in advancing redress and transforming South Africa’s historically skewed racial economic landscape.

The conference presents an opportunity to discuss further initiatives to strengthen economic transformation and support greater diversity in ownership within the country’s economy. The black industrialists program aims to increase the participation of black South Africans in the ownership and control of productive enterprises across key sectors and the entire value chain.

Tangible results of these efforts are evident, with more than 600 firms supported by the Department of Trade, Industry, and Competition recording a combined turnover of approximately R80 billion during the 2023/24 financial year, illustrating the positive impact of drawing more black entrepreneurs into the industrial economy.

Wednesday’s event will feature an exhibition showcasing proudly South African products manufactured by black industrialists and an awards ceremony recognizing industrialists who have significantly contributed to industrialization, job creation, poverty alleviation, innovation, and transformation efforts.

The conference underscores the government’s commitment to fostering an inclusive and diverse economic landscape, providing opportunities for black entrepreneurs to thrive and contribute to the nation’s growth and development.