Black Business Council CEO Kganki Matabane has proposed several measures which he believes will lift the economy out of the doldrums, including more small businesses participating in procurement opportunities.
Matabane was speaking at the National Youth Development Agency’s Investment Roundtable on Wednesday. Matabane said the first measure focused on industrialisation and localisation. “We all know, and learned through Covid-19 that we end up looking for a simple thing like a mask because we have killed localisation and industrialisation,” he said.
“We are the biggest consumer of HIV medication, but we have no factory to produce medication, thereby indirectly creating jobs in China and India. Localisation and industrialisation in this instance become a theoretical exercise. “It is important that we localise because if the Russia and Ukraine war continues for a long time, we are going to run out of food,” he warned.
He said the country could do well to learn from its recent history, pointing out how the apartheid government used state-owned enterprises to deal with the issue of poor Afrikaners by helping set up many small but now well-established businesses. “Current legislation does not support the notion that we should set aside 40% procurement for youth and women-owned businesses,” he said.
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