Successful economic recovery plan requires inclusion of SMMEs: BMF

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: 

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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.”