This fund seeks to help black entrepreneurs tackle COVID-19

The Department of Trade, Industry and Competition, in collaboration with the National Empowerment Fund, has launched a fund to support black entrepreneurs in South Africa in manufacturing and supplying medical products to aid in the fight against COVID-19. This initiative aims to empower black business owners who have been disproportionately affected by the pandemic and provide them with the necessary resources to contribute to the country's healthcare system. In a recent interview with CNBC Africa, Hlengiwe Makahthini, Spokesperson of the National Empowerment Fund, shed light on the fund and its potential impact. The key theme of this fund is to promote economic empowerment and inclusivity among black entrepreneurs during this global health crisis. The fund seeks to bridge the gap in access to resources and opportunities for black-owned businesses in the medical sector. By investing in these entrepreneurs, the fund aims to support local manufacturing, create employment opportunities, and bolster the country's healthcare infrastructure. Black entrepreneurs have faced systemic barriers and economic inequalities that have hindered their growth and success. The fund is a step towards leveling the playing field and ensuring that black entrepreneurs have the support they need to thrive and contribute to the nation's economy. The COVID-19 pandemic has underscored the importance of investing in local manufacturing and building resilient supply chains. This fund not only addresses the immediate needs of the healthcare sector during the pandemic but also lays the foundation for sustainable growth and development in the medical industry. In her interview, Makahthini emphasized the importance of collaboration and partnership in driving economic transformation and empowering black entrepreneurs. She highlighted the fund's focus on supporting entrepreneurs who are involved in the manufacturing and supply of medical products, including personal protective equipment (PPE), ventilators, and other essential healthcare items. The fund provides financial assistance, mentorship, and market access to help these businesses scale and meet the increasing demand for medical supplies. Makahthini expressed confidence in the fund's ability to make a meaningful impact on the lives of black entrepreneurs and contribute to the country's overall economic recovery. By investing in black-owned businesses and promoting entrepreneurship, the fund aims to build a more inclusive and resilient economy that benefits all South Africans. As the country continues to navigate the challenges posed by the pandemic, initiatives like this fund play a crucial role in supporting marginalized communities and fostering economic growth. The National Empowerment Fund's commitment to empowering black entrepreneurs sends a powerful message of hope and opportunity amidst the uncertainty brought about by COVID-19. With the right support and resources, black entrepreneurs have the potential to drive innovation, create jobs, and lead the country towards a brighter future.