Speaking at the 2025 BBC Summit in Kempton Park on Thursday, east of Johannesburg, Council President Elias Monage said economic promises made to black businesses and professionals have failed to materialise into meaningful change.

The summit, which brings together black professionals, policymakers, and key industry players, serves as a platform to discuss developments in the economy, assess current policies, and explore ways to improve access to opportunities for black-owned enterprises.

“For too long, the economic promises made to the marginalised, to black-owned businesses and professionals, to women, entrepreneurs, and to the youth, have remained words instead of policy,” Monage said during his keynote address.

He emphasised that access to funding should not be treated as a favour but as an economic imperative. “The economic liberation of black business is not negotiable. It is essential for a thriving, just and competitive SA”

Monage called on both government and the private sector to take decisive action to ensure meaningful inclusion of black South Africans in the economy. He said the summit’s purpose was clear, to push forward bold strategies for empowerment, particularly for women entrepreneurs and young business leaders.

The BBC has long advocated for structural reforms and stronger implementation of black economic empowerment policies, arguing that despite decades of democracy, economic power remains concentrated in the hands of a few.

--SABC/ChannelAfrica--