NAFCOC takes fight to Parliament over IDC’s alleged bias against black entrepreneurs and violation of its developmental mandate
By Special Correspondent:
The National African Federated Chamber of Commerce and Industry (NAFCOC) has turned to Parliament, demanding that the Industrial Development Corporation (IDC) be held accountable for what it calls a failure to deliver on its developmental mandate and for discriminating against black-owned businesses.
In a strongly worded letter to National Assembly Speaker Thoko Didiza, NAFCOC accused the state-owned financier of consistently sidelining township enterprises and black industrialists, while channelling funds to white-owned and privileged companies. The chamber said black businesses are routinely bogged down in red tape when seeking support, undermining efforts to drive inclusive economic growth.
Parliament has agreed to meet with NAFCOC ...
