{"id":95364,"date":"2026-02-05T11:16:27","date_gmt":"2026-02-05T11:16:27","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund"},"modified":"2026-02-05T11:32:29","modified_gmt":"2026-02-05T11:32:29","slug":"south-africa-allocates-r50-billion-for-black-business-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund","title":{"rendered":"South Africa Allocates R50 Billion for Black Business Fund"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The African Export-Import Bank agreed to lend South Africa an initial $11 billion (R177 billion) to ease funding pressures and support infrastructure projects\u2014with $3 billion (R50 billion) going to black-owned businesses.<\/p>\n

As much as $8 billion (R129 billion) of the amount will be directed to priority areas, including energy, minerals processing and critical infrastructure, Afreximbank President George Elombi said at the signing of the support package in Johannesburg on Wednesday.<\/p>\n

The lender also plans to invest in the expansion of automotive manufacturing and the development of industrial parks to broaden South Africa\u2019s revenue base, he said.<\/p>\n

South Africa has made infrastructure a cornerstone of its economic policy as it seeks to revive growth and create jobs after more than a decade of stagnation.<\/p>\n

The signing follows lawmakers\u2019 approval last October for South Africa to join Afreximbank as a Class A shareholder, granting it full sovereign membership and a greater role in the lender\u2019s governance.<\/p>\n

It\u2019s also expected to improve access to competitive trade finance for the country\u2019s companies, banks and state-owned firms.<\/p>\n

The move will further expand funding for trade under the African Continental Free Trade Area.<\/p>\n

\u201cFor South Africa, the decision to accede to Afreximbank represents a strategic alignment: we seek to contribute to an Africa that prioritises intra-continental trade and builds its own industrial base and capacity,\u201d President Cyril Ramaphosa said.<\/p>\n

The program will also inject capital into South Africa\u2019s transformation initiatives, Ramaphosa said, adding that one immediate priority would be \u201cto give muscle\u201d to a Transformation Fund that\u2019s been created to support Black-owned and managed businesses.<\/p>\n

As much as $3 billion (R48 billion) will go toward supporting the R100 billion fund, Ramaphosa said.<\/p>\n

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

Africa-Press – South-Africa. The African Export-Import Bank agreed to lend South Africa an initial $11 billion (R177 billion) to ease funding pressures and support infrastructure projects\u2014with $3 billion (R50 billion) going to black-owned businesses. As much as $8 billion (R129 billion) of the amount will be directed to priority areas, including energy, minerals processing and […]<\/p>\n","protected":false},"author":84,"featured_media":95362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[275],"class_list":["post-95364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-south-africa-2"],"yoast_head":"\nSouth Africa Allocates R50 Billion for Black Business Fund - South Africa<\/title>\n<meta name=\"description\" content=\"The African Export-Import Bank agreed to lend South Africa an initial $11 billion (R177 billion) to ease funding pressur ...\" \/>\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\/south-africa-allocates-r50-billion-for-black-business-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa Allocates R50 Billion for Black Business Fund\" \/>\n<meta property=\"og:description\" content=\"The African Export-Import Bank agreed to lend South Africa an initial $11 billion (R177 billion) to ease funding pressur ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund\" \/>\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=\"2026-02-05T11:16:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-05T11:32:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/02\/sm_1770278146.695153.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=\"2 minutes\" \/>\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\/south-africa-allocates-r50-billion-for-black-business-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa Allocates R50 Billion for Black Business Fund\",\"datePublished\":\"2026-02-05T11:16:27+00:00\",\"dateModified\":\"2026-02-05T11:32:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund\"},\"wordCount\":300,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2026\/02\/sm_1770278146.695153.jpg\",\"keywords\":[\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-allocates-r50-billion-for-black-business-fund\",\"name\":\"South Africa Allocates R50 Billion for Black Business Fund - 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