A new shield for SMMEs has been launched in Midrand

A newly formed ‘new driver of the black economy,’ the South African Council of Businesses and Industrial Development (Sacbid), was officially launched on April 8.

The council was formed in 2021 and its mission is to advocate for a fair share of the existing regional economy and to ensure active participation, and ownership by everyone who contributes to its success.

The launch of the council was held at Anashe Conference Centre in Midrand and various leaders of business forums spoke about how vital its work would be.

In his remarks, Mpiyakhe Thwala chairperson of Mzansi Business Association said, “I would like to thank Patrick Moraka, the founder and CEO of Sacbid, for his patience with us as we did not understand the concept at first.

“While many strides have been made to promote black people’s participation and ownership of the economy, it is evident that value chain control, education and training, empowerment, and access to funding, business support, markets, and resources remain significantly behind.”

Sacbid also launched its vision 2050 and its four key subsidiary projects, and Moraka predicted that the council would successfully attract, through these projects, at least R100 billion in local and international investments within the next decade.

“These investment projects and opportunities, by the year 2050, will create at least 10 million jobs on the continent, and their development will form a business and economic network that will spread across the continent.”

Johannes Mpambela, a member of Sacbid, explained why he joined the organisation. “I joined Sacbid because it brings change to the lives of black people, makes sure that black businesses participate in the economy of the country, and at the same time, creates a better future for those that will follow us.”

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