This is according to Deputy Minister of Trade and Industry Mzwandile Masina who was speaking in Durban on Monday night at the Umyezane Broad-Based Black Economic Empowerment Awards, which recognise excellence in economic transformation.

Masina said the government intended to deliberately transform industrial ownership by systematically involving black people in the ownership of strategic sectors of the economy “because the principle of inclusive growth must reflect changing demographic ownership, especially in critical industries”.

“If things have to change, they can only change if government becomes tougher and clear in policy terms and be very coherent,” added Masina.

Noting that uptake for the Black Industrialists Programme was relatively low in KwaZulu-Natal, he promised to host a roadshow in the province to encourage entrepreneurs to apply to take part in the programme.

KwaZulu-Natal’s MEC for Economic Development, Tourism and Environmental Affairs Michael Mabuyakhulu said government had taken a bold step to accelerate black economic empowerment across all sectors of the economy.

“The Black Industrialist Programme is expected to inspire a new breed of black businesspeople to move out of the periphery of the economy to the centre stage, and exploit the country’s diversified sectors to own the means of production,” said Mabuyakhulu.

ANA