He says the Competition Commission has also worked to address discriminatory market structures that may exclude smaller players.
He says penalties and fines have been imposed on anti-competitive behaviour in the metals and steel sector. Patel was speaking at the the Metals and Engineering Indaba hosted by the IDC in Sandton north of Johannesburg. He says: “In 2015 I set targets for the IDC to fund a greater number of black industrialists, women and youth empowered companies. Since then the IDC has approved R6 billion for projects that are atleast 50% owned and operated by black industrialists in metals and engineering.”
“Two billion has been approved for projects that are at least 25% owned by women in the sector. Nearly R600 million has been approved for projects that are atleast 25% owned by youth under the age of 34 years.”
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