Parks Tau, the Minister of Trade, Industry and Competition, announced on Friday that the R100 billion transformation fund will allocate resources specifically for black-owned businesses in the transport sector. Tau emphasized the urgency of addressing the marginalization of many businesses, stating that increased efforts are necessary to empower these enterprises. The fund aims to foster inclusivity and economic growth within the industry, encouraging innovation and competitiveness. By prioritizing support for black-owned companies, the initiative aspires to create a more equitable landscape in the transport sector, ultimately benefiting the broader economy. This strategic move highlights the government’s commitment to transforming the business landscape and ensuring that previously excluded communities have the opportunity to thrive.
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