The government would centralise empowerment accreditation in the Department of Trade and Industry (dti) because of abuse, Deputy Trade and Industry Minister Mzwandile Masina has said.
“We will centralise black economic empowerment [BEE] accreditation because, as things stand at the moment, it is open for abuse. Therefore, we will look at ways where this function is housed in the dti. If we are to create sustainable black industrialists, we must change how we do things,” Masina said on Thursday.
Currently, accreditation of empowerment verification agencies is done by the SA National Accreditation System.
Masina said the dti had committed itself to creating 100 black industrialists in the next three years, who would participate in the productive sectors of the economy as part of the government’s radical economic transformation programme.
He also announced several initiatives and the formation of an advisory panel on black industrialists at a black industrialists stakeholder engagement session on Thursday.
The members of the advisory panel are Sandile Zungu, Vuyo Jack, Khumbudzo Ntshavheni, Thandi Hlongwa, Xhanti Payi, Mapuleng Moropa, Moipone Moletsi, Craig Cornish, Joe Mojapelo and Ntokozo Ngcwabe.
Speaking at the event, Masina said the government was promising radical economic transformation to get more black businesses involved in the transformation of society and get more people, especially the youth, working.
“Broad-based BEE will be the vehicle used to drive that transformation. This will ensure that black people participate meaningfully and sustainably in the mainstream of our economy,” he said.
Masina said one of the yardsticks that could be used to measure the impact of the dti in transforming the economy was the extent to which black people were participating meaningfully in the economy.
He announced several initiatives to achieve its objective of creating and supporting black industrialists.
These included reforms of the Preferential Procurement Policy Framework Act, launching a new financial support scheme suitable for black industrialists, and the establishment of the advisory panel on black industrialists.
“Over the next five years, a host of working opportunities will become available to South Africans. For example, a new generation of black industrialists will be driving the reindustrialisation of our economy.
“Local procurement and increased domestic production will be at the heart of efforts to transform our economy, and will be buoyed by a government undertaking to buy 75 percent of goods and services from South African producers. We will soon launch an incentive scheme that will specifically focus on black industrialists.”