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Tag: NAFCOC

The Myth That Black South Africans Were Taught How To Trade – They Built Anyway
Business

The Myth That Black South Africans Were Taught How To Trade – They Built Anyway

To say black South Africans lacked business acumen until others arrived is not an analysis. It is arrogance, and history does not support it By Zola Pinda: Maponya Mall in Soweto. The author argues that if Richard Maponya represented visible township capital, Sam Motsuenyane represented the organised backbone of black business. (Image: Facebook) No one taught us how to trade - Black South Africans were not waiting to be taught how to trade. They were already trading, building, borrowing, saving, transporting, wholesaling, manufacturing and organising long before 1994. They did so under pass laws, forced removals, influx control, racist licensing regimes, police harassment and an economy designed to deny them ownership. To suggest that...
NAFCOC takes fight to Parliament over IDC’s alleged bias  against black entrepreneurs and violation of its developmental mandate
Business

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 ...
NAFCOC hails Ramaphosa’s R2.5bn SMME package as ‘long overdue’ and a vital intervention
Business

NAFCOC hails Ramaphosa’s R2.5bn SMME package as ‘long overdue’ and a vital intervention

By Special Correspondent: President Cyril Ramaphosa. (Image: Northern Cape Government website) The National African Federated Chamber of Commerce and Industry (NAFCOC) has welcomed President Cyril Ramaphosa’s announcement of expanded funding for small businesses, calling it a vital intervention at a precarious economic moment. Delivering his 2026 State of the Nation Address (SONA), Ramaphosa unveiled a R2.5‑billion initiative to boost job creation and industrialisation. The plan will provide direct funding to about 180,000 Small, Medium and Micro Enterprises (SMMEs), alongside R1‑billion in guarantees to unlock further financing. Priority will be given to women‑ and youth‑led enterprises, with additional support for supplier development programmes tied to manufactu...