DEPUTY PRESIDENT TO TAKE PART IN TRANSFORMATION FUND ENGAGEMENT SESSION
- BEE NEWS
- 5 days ago
- 1 min read
SA News | 4 May 2025
Deputy President Paul Mashatile will on Monday, take part in a business breakfast engagement session on the Transformation Fund.
The Transformation Fund is a key initiative aimed at accelerating transformation and supporting black-owned and black-managed businesses across various sectors in South Africa.The session which will be hosted by the Minister of Trade, Industry and Competition (DTIC), Parks Tau will be held at Freedom Park Heritage Site and Museum in Pretoria.
The meeting will be held in conjunction with the National Empowerment Fund. It will provide valuable insights into the fund, whose objectives and scope of benefits include promoting economic transformation through enabling meaningful participation of black people in the economy by providing financial and non-financial support to black-owned enterprises.
“The Transformation Fund also aims to improve access to funding for black-owned and controlled enterprises, particularly small, medium, and micro enterprises (SMMEs) and cooperatives; aggregate resources from existing Enterprise and Supplier Development (ESD) obligations to support the sustainability and growth of black-owned businesses, and mobilising financial resources from both the private and public sectors using Broad-Based Black Economic Empowerment (B-BBEE) legislation,” said the Presidency in a statement on Sunday.
Last month, Minister Tau announced the extension of the deadline for public comments on the Draft Transformation Fund Concept Document.
The extension is until 28 May 2025, from the original date of 7 May 2025.
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