{"id":63105,"date":"2024-03-21T13:21:40","date_gmt":"2024-03-21T13:21:40","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies"},"modified":"2024-03-21T14:00:35","modified_gmt":"2024-03-21T14:00:35","slug":"ramaphosa-praises-r261-billion-support-for-black-owned-companies","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies","title":{"rendered":"Ramaphosa praises R261 billion support for Black-owned companies"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South African President Cyril Ramaphosa said pledges to procure goods and services from Black-owned companies worth R261 billion would spur transformation in the economy.<\/p>\n

\u201cWe are seeing real support from established businesses for black industrialists. This helps to build an ecosystem of suppliers, creating more dynamism in the market,\u201d Ramaphosa told a conference in Johannesburg on Wednesday.<\/p>\n

The promises cover procurement plans over the next five years.<\/p>\n

Facing elections on 29 May in which his ruling ANC risks losing its majority for the first time since 1994, Ramaphosa must show he\u2019s taking steps to support Black businesses in a nation blighted by racial inequality and high unemployment.<\/p>\n

The largest pledge came from the retail, clothing and footwear sector \u2014 a key South African employer in the country \u2014 which pledged R80 billion.<\/p>\n

\u201cThe whole economy, in the end, benefits from the growth of black-owned businesses,\u201d Ramaphosa said.<\/p>\n

\u201cThis will go a really long way in fostering economic inclusion and transforming our economy.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South African President Cyril Ramaphosa said pledges to procure goods and services from Black-owned companies worth R261 billion would spur transformation in the economy. \u201cWe are seeing real support from established businesses for black industrialists. This helps to build an ecosystem of suppliers, creating more dynamism in the market,\u201d Ramaphosa told a […]<\/p>\n","protected":false},"author":84,"featured_media":63104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,377],"tags":[274,315,275],"class_list":["post-63105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nRamaphosa praises R261 billion support for Black-owned companies - South Africa<\/title>\n<meta name=\"description\" content=\"South African President Cyril Ramaphosa said pledges to procure goods and services from Black-owned companies worth R261 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ramaphosa praises R261 billion support for Black-owned companies\" \/>\n<meta property=\"og:description\" content=\"South African President Cyril Ramaphosa said pledges to procure goods and services from Black-owned companies worth R261 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-21T13:21:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-21T14:00:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/03\/sm_1711016781.572342.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ramaphosa praises R261 billion support for Black-owned companies\",\"datePublished\":\"2024-03-21T13:21:40+00:00\",\"dateModified\":\"2024-03-21T14:00:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies\"},\"wordCount\":179,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/03\/sm_1711016781.572342.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/ramaphosa-praises-r261-billion-support-for-black-owned-companies\",\"name\":\"Ramaphosa praises R261 billion support for Black-owned companies - 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