Pretoria: The Minister of Trade, Industry and Competition (dtic), Parks Tau, has extended the deadline for public comments on the Draft Transformation Fund Concept Document. The extension now allows for comments until 28 May 2025, moving from the original deadline of 7 May 2025.
According to South African Government News Agency, the 15-day extension is intended to provide the public with additional time to offer their feedback, reflecting the significant public interest in the fund. This additional time will also enable various organizations and structures to consult their members and provide comprehensive inputs, views, and comments that could enhance the concept outlined in the document.
In March, the Minister had initially announced the release of the concept document for a 30-day public commentary period. The fund’s primary objective is to consolidate Enterprise and Supplier Development (ESD) funds, thereby supporting the involvement, transformation, and sustainability of black-owned enterprises within the economy.
Minister Tau stated that this initiative presents an opportunity for the seventh administration to collaborate with the private sector, aiming to boost the effective economic participation of black-owned and managed enterprises. This includes small, medium, and micro enterprises, as well as cooperatives, by improving their access to both financial and non-financial support, in accordance with the B-BBEE Act.
The government expects to aggregate R100 billion over the current administration’s term through a partnership with the private sector. The fund’s objectives include promoting economic transformation to facilitate meaningful participation of black individuals in the economy, enhancing funding access for black-owned enterprises, empowering these enterprises to participate in key economic sectors’ value chains, and mobilizing financial resources from both the private and public sectors using B-BBEE legislation.
Minister Tau reassured that the fund’s requirements do not impose any additional obligations on entities beyond those already existing under the B-BBEE policy. The policy, through the Codes of Good Practice, mandates entities to contribute 3% of Net Profit After Tax (NPAT) towards the development of black suppliers, industrialists, and SMMEs, aiming to expand the country’s industrial and services base.
The public is invited to submit written comments by 28 May 2025, either via email at [email protected] or by hand delivery to the dtic Campus, Block A, 77 Meintjies Street, Sunnyside, Pretoria, addressed to Mr. Aubrey Motiang. Enquiries can be directed to 0861113186. The concept document is accessible at: https://www.thedtic.gov.za/wp-content/uploads/Draft-Transformation-Fund-Concept-Document.pdf