President Jacob Zuma says economic transformation should be fast-tracked for the advancement of black businesses.
Speaking at the Black Business Pioneers Dinner in Sandton Friday night, Zuma said the African National Congress (ANC) played a big role in laying a foundation for black-owned companies.
“The ANC played a historical and significant role in laying the foundation for black economic emancipation to take root. Our collective task is to fast track economic transformation so that black business can be part of the mainstream and not be regarded as an alternative sector of the economy,” Zuma said.
Zuma said there is a need to regulate the informal trading sector including those from neighbouring countries.
“Also important is the need to register all our informal traders. We cannot have mushrooming businesses all over without knowing who the traders are, including those from neighbouring sister countries in the continent and beyond. This is one of the key projects of our Inter-Ministerial Committee on Migration,” he said.
The event is held in honour of black business people who ran successful operations during the apartheid years and played leading roles in the development of South Africa.
