Definition of black industrialist 'is strict'

September 16, 2015

THE definition of a black industrialist will be strict and tight, according to Trade and Industry Minister Rob Davies.

But Mr Davies, who spoke to Business Day on Tuesday, did not specify the basis of the assertion or say whether he was referring to fronting, which has dogged black economic empowerment (BEE).

The Broad-based Black Economic Empowerment Amendment Act, which came into effect in October last year, made fronting a criminal offence.

The state will be strict in determining who qualifies for the multibillion-rand scheme to bolster the creation of large and competitive black industrialists.

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