R100BILLION TRANSFORMATIVE FUND @KASIBCNEWS

R100BILLION TRANSFORMATIVE FUND @KASIBCNEWS 

The African National Congress (ANC) welcomes the proposal for a R100 billion Transformation Fund as a bold and transformative initiative. This proposal gives concrete form and substance to our country’s constitutional principles of equality and redress. The proposed Fund seeks to address critical barriers faced by black entrepreneurs, particularly with limited access to finance, markets, and technical support. 

This initiative aligns with the ANC’s broader commitment to inclusive growth, job creation, and addressing historical inequalities, as outlined in our National Conference resolutions by empowering previously marginalized communities.  This is a comprehensive initiative aimed at empowering Black entrepreneurs, addressing market failures, and fostering inclusive economic growth. 

The proposed Fund focuses on entrepreneurship, procurement, and franchise finance, with a target of ensuring 40% ownership and management by Black women entrepreneurs. It also promotes township and rural development through funding for new ventures, acquisitions, and expansions, while supporting early-stage investments to empower Black industrialists and deliver transformative, long-term socio-economic benefits. 

The proposed Fund includes a Designated Groups Fund to increase the economic participation of Black women, youth, and people living with disabilities by improving access to capital and building entrepreneurial capacity. 

ADVERTISE HERE @R2500.00 

Additionally, the Rural, Township, and Community Development Fund revitalizes local economies and infrastructure in underdeveloped areas.  It also includes the Venture Capital Fund that will support Black-owned enterprises through acquisition, expansion, and new venture finance, focusing on projects of national importance that create jobs and enable further transformative investments. 

This initiative represents a bold step toward addressing historical inequalities and building a more inclusive and equitable economy for all South Africans. The ANC notes with concern the opposition to this transformative proposal from certain anti-transformation elements. 

This resistance reflects a troubling unwillingness to embrace efforts aimed at achieving economic inclusion and addressing the legacy of historical injustices. Such opposition risks undermining equitable economic growth and delaying meaningful progress for all South Africans. 

ADVERTISE HERE @R2500.00

It is imperative to remind those resistant to transformation that, as Parties in the Government of National Unity (GNU), there is a shared commitment to the priorities of the 7th administration. These priorities, articulated in the statement of intent, emphasize the urgent need for rapid, inclusive, and sustainable economic growth to achieve a more just and equitable society. 

The ANC remains resolute in supporting progressive proposals that advance transformative objectives and foster economic empowerment for all South Africans.