Tau extends deadline for comment on Transformation Fund to May 28
Trade, Industry and Competition Minister Parks Tau has extended the deadline for the public to comment on the draft Transformation Fund concept document to May 28, from the original date of May 7.
The document was released in late March and contains details of a controversial plan to establish a new R100-billion Transformation Fund, which will aggregate private, public and developmental capital into a single fund to support black-owned companies.
The Democratic Alliance has already raised concern that the fund would impose yet further broad-based black economic empowerment obligations on companies, while some other commentators warned that it could open a new avenue for corruption.
Tau, however, insists that the fund will not impose any additional requirements over and above what is already outlined in the prevailing policy, legislation and codes governing black empowerment.
He says the plan is to aggregate enterprise and supplier development funds as well as funds associated with equity equivalent programmes to support the participation and sustainability of black-owned enterprises in the economy.
In a statement, the department said the 15-day extension was designed to give members of the public more time to comment, in light of the importance of the fund and the significant public interest in its establishment.
“It will also give time to organisations and various structures to consult their members to provide inputs, views and comments that will strengthen the concept, the department said,” indicating that submissions could be made by email via transformationfund@thedtic.gov.za
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
