Mashatile pledges to protect R100bn transformation fund

DEPUTY President Paul Mashatile has vowed that the government will put stringent measures in place to ensure that the proposed R100 billion transformation fund does not end up in the wrong hands.

- MTHOBISI NOZULELA

The fund, proposed by Minister of Trade and Industry, Parks Tau earlier this year, aims to create a R100bn pool to support businesses owned by black entrepreneurs and drive inclusive growth across South Africa’s economy, with R20bn set to be allocated annually over the next five years.

The proposed fund has faced criticism from several political parties, including the DA and Freedom Front Plus, who argue that it is merely a rebranding of unsuccessful programmes from the past.