The purpose of Black Industrialists Scheme policy is to leverage the State’s capacity to unlock the industrial potential that exists within black-owned and managed businesses that operate within the South African economy through deliberate, targeted and well-defined financial and non-financial interventions as described in the IPAP and other government policies.
The objectives of the Black Industrialists Scheme are to:
- Accelerate the quantitative and qualitative increase and participation of black industrialists in the national economy, selected manufacturing sectors and value chains; as reflected by their contribution to growth, investment, exports and employment; and
- Create multiple and diverse pathways and instruments for black industrialists to enter strategic and targeted manufacturing sectors and value chains.
- A black industrialist refers to a juristic person, which includes co-operatives incorporated in terms of the Companies Act, 2008 (as amended) that are owned by black South Africans as defined by the Broad-Based Black Economic Empowerment (B-BBEE) Act, that creates and owns value-adding industrial capacity and provides long-term strategic and operational leadership to a business. A black industrialist can be a natural person.
Black people refer to African, Coloured and Indian persons who are natural persons and:
- Are citizens of the Republic of South Africa by birth or descent; or
- Are citizens of the Republic of South Africa by naturalisation before the commencement date of the Constitution of the Republic of South Africa Act of 1993; or
- Became citizens of the Republic of South Africa after the commencement date of the Constitution of the Republic of South Africa Act of 1993, but who, had it not been for the Apartheid policy, would have qualified for naturalisation before then.
- The definition of “black people” now includes South African Chinese people as per the Pretoria High Court ruling on 18 June 2008.
The key focus areas of the Black Industrialists Scheme programme will be on the following productive sectors:
-
Blue/ocean economy, including vessel building and repair
-
Oil and gas
-
Clean technology and energy
-
Mineral beneficiation
-
Aerospace, rail and automotive components
-
Industrial Infrastructure
-
Information communication technologies
-
Agro-processing
-
Clothing, textiles/leather and footwear
-
Pulp, paper and furniture
-
Chemicals, pharmaceuticals and plastics
-
Nuclear
-
Manufacturing-related logistics
-
Designated sectors for localisation
-
These sectors will be reviewed from time to time, in line with government priorities. Interpretation of the support areas within each sector will be at the discretion of the dti.
-
Other manufacturing activities may be considered based on economic impact in terms of job creation, geographic spread and strengthening supply chains.
Should you be interested in applying for the business grant, Dream Team Capital can assist you. Contact us today for professional assistance in streamlining your application for the Black Industrialists Scheme.
