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Ebrahim Patel: High economic concentration affecting small businesses

Economic Development Minister Ebrahim Patel told business leaders at Monday's breakfast briefing at the ANC conference that their policy preference is to de-concentrate the economy.

Economic Development Minister Ebrahim Patel addresses the Progressive Business Forum at the Nasrec, Johannesburg on 19 December, 2017. Picture: @MYANC/Twitter

JOHANNESBURG - Economic Development Minister Ebrahim Patel says the government has identified a number of sectors where there's a high economic concentration affecting in general smaller businesses.

Patel told business leaders at Monday's breakfast briefing at the African National Congress (ANC) conference that their policy preference is to de-concentrate the economy.

He says this will boost economic inclusion.

Patel says the industries they have identified affect business across the board.

“They included sectors such as communication technologies, energy, mining, pharmaceuticals and transport. Concentration can potentially have negative effects. It can raise prizes; it can result in lower economic growth.”