Black businesses need support in order to access international markets: Masondo

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Deputy Finance Minister, David Masondo says government is finalising the public procurement bill which will set aside funding to enable black entrepreneurs to access markets.

He says government should protect some industries and products in the local economy against international competition.

Masondo was addressing delegates at the Black Management Forum Conference in Midrand.

“We need to support the export of what is produced by black entrepreneurs so that they can enter the international markets. We also need to support our black entrepreneurs to make sure that they do have access to technology to ensure that we can also produce at competitive level.  Black industrialists face challenges of access to finance due to the limited pool to financiers and also the government debt. Our borrowing requirements as government are very high.”