Transformation Fund aims to work with, for black women

It advocates for SMMEs owned by women, addresses problems they have with financing and targets sectors where women are concentrated

- Sarah Mokwebo

On 20 March, the department of trade, industry and competition published the Transformation Fund draft policy for public comment. It is intended to aggregate enterprise and supplier development funds from business organisations and the Competition Commission's public interest participation investment commitments in support of transformation in the economy.

There has been resistance to the fund, with some calling it another avenue for corruption.

It is also criticised for a lack of intention and effort in eradicating systemic and structural exclusion of black women from being key economic players.

The criticism is not only misplaced — it also ignores the necessity of the fund in addressing the slow pace of transformation, racialised gender and class household disparities, racial hierarchies in labour markets and unequal wealth levels.

The proposed fund alleviates racialised gender inequalities by elevating three essential proposals.