DURBAN - The eThekwini Municipality in partnership with the Federation for Radical Economic Transformation hosted the Radical Economic Transformation Conference and Expo on the 27 February 2018.
FRET, a growing and gigantic association of business forum, is partnering with the municipality to help black businesses grow. The RET framework was introduced last year.
Men and women from various black business associations, together with officials from the municipality were in attendance to discuss the implementation of RET (radical economic transformation).
The conference is a platform for emerging entrepreneurs to engage with stakeholders on available opportunities that they can tap into in order to make a contribution to the economy.
Durban City Manager for Economic Development and Planning, Philip Sithole spoke about the state if the Durban economy. He said: "The Durban economy is growing but at a slow pace and the Durban economy will have a growth rate of about 2% this year."
Sithole added that certain sectors of communities need to participate in the key areas of the economy in order for the economy to grow.
The Durban City Manager used the example of small contractors that want to be involved in big projects in the townships. He said that radical economic transformation can help people become a part of those projects.
He also said that radical economic transformation is needed to get groups like women, youth and military veterans to become a part of the economy.
- BUSINESS REPORT ONLINE