Black industrialists breaking barriers to create businesses, despite facing challenges

President Ramaphosa said underdevelopment in townships and bantustans limited access to economic opportunities.

Despite facing immense challenges, black industrialists have persevered, defying the odds and breaking barriers to create thriving businesses and contribute significantly to the nation's economic development.

“Today, we celebrate the power of empowerment. Empowerment that has not been handed out as charity but earned through hard work, resilience and unwavering determination.

“Black industrialists are not just job creators and wealth generators, they are agents of change, driving social and economic transformation in our communities,” President Cyril Ramaphosa said on Wednesday.

He said at the heart of every successful industrialist lies a spirit of innovation and creativity.

“Whether it is in technology, manufacturing, agriculture or services, they have shown that excellence knows no bounds and that Africa is a continent brimming with untapped potential and ingenuity.

“None of this progress would have been possible without the spirit of collaboration and partnership,” the President said, addressing the Black Industrialists and Exporters Conference at the Sandton Convention Centre.

President Ramaphosa said it was a good moment for the country to reflect on the empowerment journey which is a central part of the changes that have taken place over the last three decades.

“We have about 1 000 black industrialists present here today. This is a living testimony to the changes that have taken place in the past 30 years, and indeed, over the past five years,” President Ramaphosa said.

He said empowerment is a historical imperative to provide redress to black South Africans who were discriminated against and excluded under the apartheid regime.

“Even after the advent of democracy, and the removal of discriminatory laws, the racial features of privilege and disadvantage remained,” he said.

President Ramaphosa said underdevelopment in townships and bantustans limited access to economic opportunities.

“Bantu education left several generations without the skills needed to improve their economic situation.

“Much has changed in our country, but this iniquitous inheritance continues to diminish the economic prospects of many black and women South Africans. It is this inheritance that we are determined to overcome,” he said.

The President said for far too long, the country's economic landscape was marked by inequality, exclusion and systemic barriers that hindered the progress of aspiring entrepreneurs, especially those from black communities.

The conference takes place on the eve of the 20th anniversary of the implementation of the Broad-Based Black Economic Empowerment Act (B-BBEE Act).

It has shone the spotlight on the achievements, successes, opportunities and strides made by the Black Industrialists Programme since its inception in 2016.

This years’ conference features 53 large companies or procurers making pledges to buy from the growing class of black industrialists.

The conference will culminate with an awards ceremony aimed at recognising the contribution of Black Industrialists towards driving economic growth, social transformation and in advancing inclusive entrepreneurship in the South African economy.

More than 200 entries have been received and ten awards will be announced at the conference. 

(With Inputs from South African Government Press Release)