• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION
No Result
View All Result
1
Home Business

Successful economic recovery plan requires inclusion of SMMEs: BMF

21 September 2020, 4:42 PM  |
Ayabonga Kekana Ayabonga Kekana |  @SABCNews
President Cyril Ramaphosa is expected to announce an economic recovery action plan following engagements with social partners at the National Economic Development and Labour Council

President Cyril Ramaphosa is expected to announce an economic recovery action plan following engagements with social partners at the National Economic Development and Labour Council

Image: Reuters

President Cyril Ramaphosa is expected to announce an economic recovery action plan following engagements with social partners at the National Economic Development and Labour Council

The Black Management Forum (BMF) believes that a successful economic recovery plan requires a rapid transformation in business. The forum argues that current policies favour big businesses against black Small, Medium, and Micro Enterprise (SMMEs) businesses.

President Cyril Ramaphosa is expected to announce an economic recovery action plan following engagements with social partners at the National Economic Development and Labour Council (Nedlac).

The plan aims to build confidence and place SA on a path of growth: 

The BMF’s Head of Policy, Monde Ndlovu, says government needs to act as a watchdog to ensure that radical transformation is implemented in the business sector.

“You’ve got to have a government that’s going to adjudicate, that’s going to have organisations that drive this agenda for them as well because they can’t do it on their own; and that private capital begins to be humanised to become more human in its development of product and services without the pressure of BMF, without the pressure of ABASA, etc and the pressure of the government. We would probably not be where we are in terms of these policies that have made a little bit of traction, which ought to have a spillover including the development of black business. So there’s still a lot of work to be done.”

Corruption 

Monde also says corruption remains a threat to the development of the country’s economy.

“Corruption is the twin sin of leadership and if it’s not dealt with it spoils the whole basket of leadership. If there is no effort in driving the development of leadership capacity on the ground going up, business will never have confidence in the South African government albeit in the national drive to develop this emerging market.”

Share article
Tags: EconomyGDPSMMEsBMF
Previous Post

Anglican Church to honour the late ANC President Oliver Tambo

Next Post

Mkhize encourages South Africans to download COVID Alert SA app

Related Posts

A person holding South African notes.

Sigh of relief for indebted consumers as repo rate remains unchanged

22 September 2023, 8:09 AM
A taxi rank.

Cashless taxi service launched in Cape Town

21 September 2023, 8:01 PM

INFOGRAPHIC | Changes in repo rate since 2022

21 September 2023, 6:49 PM
[FILE IMAGE] Taxis wait to receive passengers at a taxi rank.

eThekwini municipality, Taxi association seek to resolve uMhlanga Rocks rank dispute

21 September 2023, 5:25 PM
Maize crop seen on a farm.

Changing weather patterns fuel acute food insecurity for 140 million Africans: Report

21 September 2023, 5:12 PM
SARB Governor Lesetja Kganyago

VIDEO | Interest rates remain unchanged: Kganyago

21 September 2023, 3:06 PM
Next Post
Minister Zweli Mkhize says South Africans should continue taking precautionary measures to avoid resurgence of the coronavirus.

Mkhize encourages South Africans to download COVID Alert SA app

Most Viewed

  • 24hrs
  • Week
  • Month
  • High waves and rough water conditions force beach closures in the Western Cape
  • UPDATE: Public warned not to go to W Cape beaches as another spring tide expected
  • Spring high tide leaves trail of destruction along Garden Route
  • ‘Buthelezi was a good man who did a bad man’s job’
  • A Celebration of a Legacy: Amabutho, IFP pay final tribute to Prince Buthelezi
  • High waves and rough water conditions force beach closures in the Western Cape
  • Prince Mangosuthu Buthelezi to rest in the town he built and nurtured
  • NSPCA files criminal case against Julius Malema for alleged animal cruelty
  • Snow, heavy rainfall expected in parts of KZN: SAWS
  • Cold-front sweeps across SA bringing snow and chilly temperatures
  • Cashless taxi service launched in Cape Town
  • Maimane to take legal action against Gauteng Premier over school closures
  • Concern over exclusion of foreign nationals from Road Accident Fund
  • SA Navy releases names of sub-mariners in Kommetjie tragedy
  • Legal professionals raise concerns over proposed amendments to RAF 

LATEST

Road closure sign.
  • South Africa

R103 to be closed for demolition of Lynnfield Bridge on N3 towards Durban


Sudan President of the Transitional Sovereign Council Abdel-Fattah Al-Burhan Abdelrahman Al-Burhan addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 21, 2023.
  • Africa

Sudan’s rival military leaders give competing addresses to UN


[File Image]: Water supply to residents of Kimberley has been disrupted.
  • South Africa

Gauteng residents struggle amid prolonged water outages


Ireland's Jamison Gibson-Park scores their first try at the Rugby World Cup 2023 Pool B Ireland vs Romania match at the Matmut Atlantique, Bordeaux, France - September 9, 2023.
  • Sport

Ireland bring in Gibson-Park for Pool B showdown with South Africa


Paul Mashatile delivers an address at the 30th Anniversary of Vaal Uprisings Rally in Sebokeng, Vaal.
  • South Africa

Mashatile addresses slow land restitution process


Rhinos are seen at the Buffalo Dream Ranch, the biggest private rhino sanctuary in the continent, in Klerksdorp in the North West.
  • South Africa

Researcher highlights continuous rhino onslaught in South Africa


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION

© 2023

Previous Anglican Church to honour the late ANC President Oliver Tambo
Next Mkhize encourages South Africans to download COVID Alert SA app