Black industrialists not alien to “new” South Africa

Why black industrialists and not just industrialists? This has ever been on the minds of critics ever since President Jacob Zuma made the announcement of the black industrialists’ initiative over a year ago. It has been considered a misnomer of sorts in the inclusive South Africa. So, why of all decisions did the government introduce the programme?
Based on Trade and Industry Minister, Robbie Davies’ definition during the Imbizo, the policy defines a black industrialist as “a juristic person that includes co-operatives, incorporated in terms of the Companies Act (2008), owned by black South Africans as defined by the B-BBEE Act, who creates and owns value-adding industrial capacity and provides long-term strategic and operational leadership to a business”.
“A black industrialist can also be a natural person, and that black industrialists must provide strategic and operational leadership to a business with a high-level of ownership – over 50% and/or exercising control of that business. They must be personally involved in the business and be involved in the manufacturing sector,” he elaborated further, stressing that the concept of black industrialists was introduced as a channel to ensure the industrialisation of the African continent.