SA needs more black industrialists: Davies

Davies was interacting with the American Chamber of Commerce on trade relations at a business breakfast on Tuesday morning.

Minister Davies said black industrialists must take advantage of the country's trade with America in order to become major players in the industrial space. 

WATCH: Samkele Maseko reports from the business breakfast

Davies said there is a need for black industrialists in manufacturing, to partner with foreign investors and stimulate the economic growth.

"We are looking at majority black-owned companies, or black-led companies of some sort, who are going to be involved in the manufacturing sector," Davies said.

Davies said government did not want black industrialists to just be minority shareholders through BEE schemes.