Closing Remarks by President Cyril Ramaphosa at the 2nd Black Industrialists and Exporters Conference Sandton Convention Centre, Johannesburg, 20 March 2024
Programme Director,
Minister of Trade, Industry and Competition, Mr Ebrahim Patel,
Ministers, Deputy Ministers and MECs,
Distinguished Guests,
Ladies and Gentlemen,
Today has truly been a celebration of black excellence.
As we draw the curtain on the formal part of this 2nd Black Industrialists and Exporters Conference, I am filled with a deep sense of optimism and determination.
Over the course of the day, we have heard from the pioneers of black businesses that are a cornerstone of our economy.
They are creating jobs, exporting goods, earning foreign exchange, and helping to lift communities out of poverty.
We know that the playing field for black business in South Africa is still not level.
Yet there has been significant progress over the 30 years of freedom.
In the last five years alone, we have strengthened our institutions to deal with economic concentration, deliver more industrial funding and cut red tape across the economy.
We have been working to strengthen the link between the skills that we develop and the skills the workplace needs.
What we have heard today is that market access, finance and increased platforms of collaboration are critical to the continued growth and development of black industrialists.
Events like this one provide us with such a platform, where government, private sector partners and civil society come together to advance a common agenda.
The pledges we have just heard provide evidence of this collaboration across the business community, a collaboration which can support greater growth and participation of black businesses in the economy.
More than R261 billion has been committed here for procurement from 239 black industrialists.
These commitments are promoting black businesses across the economy, from agro-processing to auto and rail; from industrial equipment to clothing and footwear; from retail to pharmaceuticals; from infrastructure to financial services.
When established businesses support black industrialists, they help to build an eco-system of suppliers, creating more dynamism in the market.
It is significant that it is not only established businesses that have taken up this challenge.
Some 18 black industrialists have made commitments to bring another 55 of their fellow black-owned and -managed businesses into their supply chains, with a substantial combined commitment.
We are now at the point where black industrialists can be the capital that can fund and support growth in the next generation.
It is a sign that we are making our way towards a time when black business emerges as the driving force of growth.
The R79 billion that has been committed for procurement in the retail sector will see more local products – made by black industrialists – in the hands of South African consumers.
The R52 billion in procurement commitments in infrastructure will see more black-owned and -managed businesses contributing to the expansion and improvement of our ports, energy infrastructure and logistics networks.
The R27 billion committed to agriculture and agro-processing will bring more black farmers into the formal economy, readying them for the export opportunities that lie abroad.
These commitments will help to accelerate the re-industrialisation of our economy.
My challenge to the 239 black industrialists who will benefit from these procurement commitments is to return to this stage at the 3rd Black Industrialists Conference, not as beneficiaries of procurement but as drivers of investment in the next generation of black entrepreneurs.
As we celebrate the achievements of black industrialists, we must look to the future.
Our businesses must not only thrive locally but also compete on the global stage.
Through technology adoption, market diversification and strategic partnerships, black industrialists are positioning themselves as leaders in their respective industries and ambassadors of African excellence worldwide.
As we continue to support, invest and collaborate, we will unlock even greater potential and prosperity for our nation.
Let us stand united in our commitment to building a more inclusive, dynamic and prosperous economy — one where every entrepreneur, regardless of background, has the opportunity to succeed.
I congratulate all the black industrialists being honoured today for their outstanding contributions to our economy and society.
Your resilience, innovation and vision inspire us all to reach greater heights and build a brighter future for generations to come.
I thank you.
