Over 60 companies expected to bring chequebooks to black industrialists conference - Patel

JOHANNESBURG - The Minister of Trade and Industry, Ebrahim Patel, says more than 60 big companies are expected to bring their chequebooks to the Black Industrialists and Exporters Conference in Sandton on Wednesday.

The second annual event will draw over a thousand black-owned businesses and investors under the same roof to talk shop on a range of issues.

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They include unlocking market opportunities and addressing challenges faced by black industrialists.

The Black Industrialists’ Policy was established in 2015 to boost the growth and global competitiveness of black-owned companies.

Patel said 53 large companies are already expected to make pledges, while 11 others are set to strike a deal to procure goods strictly from black firms.

“In all, 64 companies are expected to make pledges, indicating that over the next five years, they will be buying from other black industrialists,” he said.

“It will be from different sectors of the economy – you’re going to have food products, the auto industry, metals and industrial equipment, clothing and footwear, in pharmaceuticals and cosmetics and in infrastructure.”