President Cyril Ramaphosa has today, Wednesday, 13 December 2023, held a meeting with the Black Business Council (BBC) at the Union Buildings in Pretoria, to discuss the immediate challenges facing the economy and fundamental transformation of the economy.  

The Black Business Council, led by Mr Elias Monage, is a confederation representing black professional and business associations. The discussion centred on issues that have inhibited black business participation in contributing to South Africa's development and economic growth; energy security, transport, agriculture and the capacity of the state. 

Employment equity and transformation also featured prominently in the discussion with participants reflecting on the 20 Years of the B-BBEE Act and 25 Years of the Employment Equity Act.

“Since the advent of democracy nearly 30 years ago, we have worked to advance the economic position of black and women South Africans. That is why we introduced broad-based black economic empowerment, affirmative action, preferential procurement and other transformation policies to address the imbalances created by years of apartheid rule. Our fiscal policies enabled a massive redistribution of resources towards mainly black South Africans through the provision of basic services, subsidised housing, improved education and health care, and social grants,” said President Ramaphosa. 

"The BBC notes progress being made in processing the Public Procurement Bill. We view this bill as a very important instrument and the BBC is happy that the bill, in its current form, after many fights, contains the set-asides in the primary legislation," said Mr Elias Monage, BBC President.

President Ramaphosa welcomed the proposals tabled by the leadership of the BBC that will be taken forward in collaboration with government. The meeting agreed to stablish five focused work streams, namely; 

i. Inclusive economic transformation
ii. Funding of black small businesses
iii. Energy (to be considered as part of NECOM work streams)
iv. Transport and logistics (to be considered as part of NLCC work streams)
v. Capacity of the State

The work streams will be coordinated from the Presidency, and the first quarterly report back will take place in March 2024. 

President Ramaphosa reaffirmed the government's commitment in addressing the energy crisis, logistics backlogs and crime and corruption by highlighting key interventions through the Energy Action Plan, National Logistics Crisis Committee and the recently adopted Freight Logistics Road map, and positive steps taken to appoint a new board of Transnet and the Eskom Group Chief Executive Officer. 

President Ramaphosa was supported by Ministers of Agriculture, Land Reform and Rural Development; Trade, Industry and Competition; Employment and Labour; Finance, Transport and Electricity along with the Deputy Minister of Finance. 

Media enquiries: Vincent Magwenya, Spokesperson to the President - media@presidency.gov.za

For the BBC: Ms Masedi Sesele - +27 66 588 2464 / masedi.sesele@blackbusinesscouncil.africa

Issued by: The Presidency
Pretoria