Economy

Township entrepreneurs lead push to transform black-owned businesses in SA

Date: May 1, 2025

In the heart of Soweto, South Africa’s (SA) largest township, black entrepreneurs and thought leaders are coming together to explore ways of transforming black-owned businesses into key drivers of employment and inclusive economic growth.

Michael Moloyi, National Public Relations Officer of Black Business Unity, said the initiative will be supported by quarterly roadshows aimed at tracking progress in job creation, enterprise development, and long-term sustainability. “Every three months, we’ll evaluate how many jobs and businesses have been created, and whether we are making real progress towards inclusivity,” said Moloyi.

He cited disunity and inefficiencies in accessing government support as major challenges. “We have the resources, including the R500 million ($26.87 million) announced by government, but many businesses struggle with delayed application processes. We must organise ourselves and bring our own funding to the table.”

Professor Lebohang Mathole stressed the urgent need for collaboration between the government and private sector. “We’ve never needed each other more than we do now. We must stop operating in isolation and focus on the everyday realities affecting our communities.”

Delegates agreed that improved co-ordination, better access to finance, and inclusive policy implementation are key to meaningful transformation.

--ChannelAfrica--

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