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Black business discusses localisation and industrialisation

The 2022 Black Business Summit

“What we are focusing on is creating opportunities for black
businesses but also to focus and support Small and Medium
Enterprises. I was very pleased to hear what the Wholesale and
Retail SETA is doing because we want to multiply that so that we
continue to assist small businesses,” said President Ramaphosa.

This, at the backdrop of sluggish economic growth and unyielding
unemployment that have been exacerbated by the COVID-19
pandemic, unrests and floods, the President added that government
supported the summit to affirm a shared desire to forge a new
economy in which all South Africans have a stake with meaningful
opportunities. He reflected on challenges that have impacted on
the economy for many years, with deindustrialisation as one of the
President Ramaphosa addressing guests at the Black
Business Summit Gala Dinner main contributors.

outh African President Cyril Ramaphosa made inspirational
Sremarks about the role of the W&RSETA on SMME development
at the Black Business Summit Gala Dinner that was held on 19
May in Johannesburg.

President Ramaphosa with W&RSETA Chairperson Reggie
Sibiya and CEO Tom Mkhwanazi.
President Ramaphosa urged business to participate in the African
Continental Free Trade which presents an opportunity for Africa to
collaborate in order to become a great economic powerhouse.
BBC President, Elias Monage opened the summit Concluding his address, the President said that rebuilding the
South African economy is a collective effort and called on business
to be part of the solutions.
The two-day annual summit attracted about 500 delegates from
government, private sector and politics who discussed their role
on growing the economy through localisation and industrialisation
focused on youth, women and black-owned businesses.

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W&RSETA | May 2022