Black business people must support each other: Ndabeni-Abrahams

Friday, March 1, 2019

Communications Minister Stella Ndabeni-Abrahams has called on black business people to support each other if they want to see economic transformation. 

“It’s time for black professionals to rise up and be heard,” the Minister said. 

Speaking at the Black Business Council Summit in Midrand, Gauteng, on Friday, Ndabeni-Abrahams emphasised the need for businesspeople to understand how government and the systems works. 

The purpose of the summit is to consolidate a concept document that will steer the mandate and vision of the Black Business Council through the advocacy of economic transformation. 

“The business sector needs to understand how government and the systems works. Government is willing to support black business,” Ndabeni-Abrahams said. 

She called on business to avoid fronting, as this does not reflect well on black business. 

“Real economic transformation can only happen by supporting black business. If you believe in yourselves, it is possible,” Ndabeni-Abrahams said.

The two-day summit, which commenced on Thursday, is an interaction between government, labour, civil society and business on matters relating to the country’s economy.  

Among other issues, the summit is also expected to discuss land reform, South Africa’s readiness for the Fourth Industrial Revolution (4IR), comprehensive socio-economic transformation as well as mechanisms to increase the number of new entrants into the economy, thus creating much-needed jobs and reducing unemployment. 

The advancement of 4IR has increased curiosity on the subjects of inclusive growth, transformation and job creation. 

The summit takes the form of various plenary sessions featuring captains of industry, academics, professionals, economists and thought leaders, who will engage to share their expert knowledge on various predetermined topics that will steer conversation on the state of the economy. 

President Cyril Ramaphosa is expected to address the BBC summit dinner at Gallagher Convention Centre later today. –