Ramaphosa: Commercial banks must assist struggling black industrialists
President Cyril Ramaphosa has called on the country's financial institutions to help fund emerging black industrialists.
Ramaphosa delivered the keynote address at the Black Industrialists and Exporters conference in Sandton on Wednesday.
He said there was a need for reform to ensure industrialists’ success.
"One of the recurring challenges and complaints is that they don't get funding and that funding is not easily available to black businesses, and I have heard this too many times.
"The reality of the was sharpened to me during COVID-19, and we found that there were impossible conditions that black business could attain, and now we are saying those conditions must be reformed."
"Many of them must be dropped. We must make funding available to black businesses so that they can help and contribute to growing the economy because there is no economy that can grow without funding," he added.
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