Deputy President Mashatile Joins Pretoria Dialogue on Boosting Black-Owned Businesses

Deputy President Paul Mashatile is set to participate in a high-level engagement session on Monday, 5 May 2025, focused on the Transformation Fund—a national initiative dedicated to accelerating economic transformation by supporting black-owned and black-managed enterprises.

The session will be hosted by Minister of Trade, Industry and Competition, Parks Tau, at the Freedom Park Heritage Site and Museum in Pretoria. The event will bring together government leaders, fund managers, and stakeholders from across the private sector to discuss the impact, scope, and future of the fund.

Empowering Black Businesses Through Strategic Support

The Transformation Fund, developed in partnership with the National Empowerment Fund (NEF), plays a critical role in supporting black entrepreneurs, particularly those leading small, medium, and micro enterprises (SMMEs) and cooperatives.

The fund offers both financial and non-financial support, aiming to:

• Improve access to funding for black-owned and controlled enterprises.

• Aggregate resources from Enterprise and Supplier Development (ESD) programs.

• Mobilise capital from both public and private sectors.

• Drive economic transformation under Broad-Based Black Economic Empowerment (B-BBEE) policies.

In a statement on Sunday, the Presidency noted:

“The Transformation Fund also aims to support the sustainability and growth of black-owned businesses and promote meaningful participation of black people in the South African economy.”

Public Consultation Extended

Last month, Minister Tau announced an extension for public comments on the Draft Transformation Fund Concept Document. Originally set to close on 7 May 2025, the new deadline for submissions is 28 May 2025.

This extension is meant to allow more South Africans—especially entrepreneurs and industry stakeholders—to have their say in shaping the fund’s framework and rollout.

Why This Matters

As South Africa continues to address structural inequalities in the economy, initiatives like the Transformation Fund are central to ensuring inclusive growth. Monday’s engagement session is expected to offer clarity, accountability, and new momentum in unlocking opportunities for historically disadvantaged businesses.

The event also highlights the government’s ongoing efforts to strengthen partnerships with the private sector and deliver on its transformation agenda.

{Source: SA News}

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