File picture: Reuters
Johannesburg - Minister of Trade and Industry Rob Davies together with First National Bank (FNB) chief executive for Public Sector Banking Kgosi Ledimo on Tuesday signed a pledge that would improve access to finance for black industrialists to fast-track accelerated economic transformation at a ceremony held in Johannesburg.

Davies said the partnership would see the two entities share information regarding various products offered by the Department of Trade and Industry (dti), with a focus on facilitating information-sharing regarding the dti’s incentive programmes.

Davies said: “By committing to this agreement, we undertake to collaborate with FNB in marketing our incentives and other related programmes on their website; we will also put measures in place to evaluate applications for financial support that are referred or received through FNB.

Read also: Automotive industry backs black industrialists | IOL

"Through this programme, the government hopes to contribute towards shifting the demographic composition of South Africa’s industrial sector and engage the under-utilised source of jobs, revenue, taxes and innovation, which are black industrialists."

Since its establishment last year, the Black Industrialists Programme has approved 52 projects for support, with a projected investment value of R4.5billion.