In 2015, Cabinet approved the Black Industrialists Policy, which sought to increase the participation of black South Africans in the ownership and control of productive enterprises in key sectors and value chains of the economy. In 2016 the Black Industrialists Programme was launched with the dtic, IDC and NEF anchoring the implementation.
- The dtic has advanced the objectives of the programme through grant funding to applicants who want a foothold in key, productive sectors of the economy.
- The IDC and NEF provide funding to eligible black entrepreneurs, including those who would have had difficulty obtaining funding from commercial banks.
Over the last six years, R35 billion has been approved and R23 billion disbursed to support 972 industrialists and in the process supported 167 244 jobs.