The Minister of Trade, Industry and Competition (dtic), Parks Tau, has extended 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.
“The extension by 15 days is informed by a need to give members of the public more time to comment given the importance of the fund that has received a huge public interest.
“It will also give time to organisations and various structures to consult their members to provide inputs, views and comments that will strengthen the concept,” the dtic said in a statement.
In March, the Minister announced the publication of the concept document for a 30-day public commentary period.
The aim of the fund is to aggregate Enterprise and Supplier Development (ESD) funds in support of the participation, transformation and sustainability of black-owned enterprises in the economy.
“This provides an opportunity for the seventh administration, working with the private sector, to increase the effective economic participation of black-owned and managed enterprises, including small, medium and micro enterprises and co-operatives, and enhance their access to financial and non-financial support in line with the requirement of the B-BBEE [Broad-Based Black Economic Empowerment] Act,” Tau said at the time.
It is expected that an amount of R100 billion will be aggregated over the term of the current administration through a joint effort by government, in partnership with the private sector.
The objectives of the fund are as follows:
• Promote economic transformation in order to enable meaningful participation of black people in the economy.
• Improve access to funding for black-owned and controlled enterprises.
• Empower and support black-owned and controlled enterprises participation in value chains across key sectors of the economy.
• Mobilise financial resources from the private and public sector using B-BBEE legislation.
• The Minister would like to affirm that the requirements of the Fund are no additional requirements for entities over and above what currently exists in the B-BBEE policy.
The B-BBEE policy, through the Codes of Good Practice, requires that entities must contribute through ESD in the 3% of Net Profit After Tax (NPAT) to the development of black suppliers, black industrialists and SMMEs to broaden the industrial and services base of the country.
READ | Draft Transformation Fund Concept document out for public comment
Members of the public are invited to submit written comments to any of the following addresses by 28 May 2025:
E-mail address: transformationfund@thedtic.gov.za or
Hand Deliver to the the dtic Campus
Block A
77 Meintjies Street
Sunnyside
Pretoria
Attention: Mr Aubrey Motiang
Enquiries: 0861113186
The concept document can be accessed on : https://www.thedtic.gov.za/wp-content/uploads/Draft-Transformation-Fund-Concept-Document.pdf
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