Long-term strategy needed to grow black-owned businesses

December 8, 2017

WHILE some policies are rightfully placed to develop Small Medium and Micro Enterprises (SMMEs) in South Africa, further consideration needs to be given to the development of large black-owned companies to ensure they can compete globally, undertake large complex projects and export their services and products to other global markets.

The revised Preferential Procurement Regulations 2017, an amendment to the Preferential Procurement Policy Framework Act, Act Number 5 of 2000 (PPPFA) which came into effect in January 2017, requires that 30% of government contracts are to be set aside to empower certain categories (Small Medium and Micro Enterprises (SMME) also classified as EMEs or QSEs, Co-operatives, Township and Rural enterprises) through procurement.

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