BURNING ISSUES FACING BLACK ENTREPRENEURS, CITY PRESS, Business
Some tough talking and soul-searching defined the Black Management Forum conference this week. Mamello oviasote was there and identified the top themes that permeated the debates and discussions, nearly all of which included frustration at the slow pace of economic transformation GOVERNMENT AGENCIES Bheld Sibiya, the interim chief executive of PPC and chief executive of the Chamber of Mines, took aim at the Industrial Development Corporation (IDC), saying it needed to do more to fund emerging black industrialists. Sibiya said sometimes black industrialists fail because they have limited or no access to funding despite South Africa having various developmental institutions. ''I think the IDC can do more than it has for emerging black industrialists,'' Sibiya said. Philisiwe Mthethwa, the chief executive of the National Empowerment Fund (NEF), who is also on the IDC board, said while the role of development finance institutions is to provide support for inclusive growth to support black entrepreneurs, they too have limited capital. ''The JSE had a market capitalisation of R11.15 trillion as at March 7 2014, and black ownership stands at 3.9%,'' she said, citing research by Who Owns Whom.