Economy

SA pushes forward with Transformation Fund despite criticism

Date: May 5, 2025

South Africa's (SA) Trade, Industry, and Competition Minister Parks Tau has reaffirmed the government's commitment to establishing the Transformation Fund, despite facing criticism from various sectors.

Speaking at a business breakfast engagement session on the fund in Pretoria on Monday, Tau emphasised the urgency of addressing economic growth and ensuring inclusivity within the country’s financial landscape.

Tau asserted that the fund is a vital mechanism to drive transformation and broaden economic participation, particularly for historically disadvantaged groups. "We cannot delay the process any further. There is an urgent need to accelerate economic growth and create opportunities that benefit a wider segment of society," he stated.

--SABC/ChannelAfrica--

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