- 10 March 2016
- Africa
Tuesday, 15 March 2016
Saturday, 12 March 2016
BLACK ECONOMIC EMPOWERMENT MOVEMENT LAUNCHED IN THE US, DECEMBER 2015
BLACK ECONOMIC EMPOWERMENT 2016 CAMPAIGN LAUNCHED ONLINE
SPECIAL TO THE ...DECEMBER 28,2015
Both Dr. King and Malcolm X were supporters of Black economic empowerment
A nationwide grassroots Black economic empowerment movement called LetsBuyBlack365 hosts its first press conference on December 29th in New York City at the Brooklyn Christian Center.
The Center is located at 1061 Atlantic Avenue between Franklin and Classon Avenues in Brooklyn, New York.
According to Reverend Dennis Dillon, the press event will be featured during the Center’s week-long economic empowerment conference.
It will be held on the fourth day of Kwanzaa highlighting the principle of Ujamaa which encourages the spirit of cooperative economics. It is scheduled to begin at 6:00 PM.
Participating Panelists: Reverend Dennis Dillon, Brooklyn Christian Center; Robert E. Cornegy, Jr., Councilman, 36th District, Bedford Stuyvesant and Northern Crown Heights; Kamose Muhammad, President & CEO Freedom Paper Company; Chet Riddick, President, Alpha Office Enterprises; Chevonna Johnson, President AAU & Executive Director of Whitney Foundation; Dr. Mawiyah Kambon, President of Onipa Psychological and Consulting Services, Past President of ABPsi (The Association of Black Psychologists); Nataki Kambon, Spokesperson, DC Area Organizer, Strategic Partnership Relationship Coordinator; and, Joseph C. Grant, Jr., Moderator, Ambassador of Arts & Culture,
Bedford Stuyvesant and Northern Crown Heights.
The event unveils LetsBuyBlack365’s national agenda which takes a wholistic approach to create economic empowerment through a model that integrates corporations, grassroots organizations, small businesses and individual consumers.
National strategic partners in manufacturing, distribution, national services, and the
entertainment industry will attend.
Alpha Office Solutions, Abibitumikasa.com - the African Language Institute and online university, ComproTax, All About Us, the Black Sustainability Collective and others will make bold announcements and commitments to empower Black communities.
Also in attendance, will be members of the media, local business leaders, and other key community stakeholders.
The purpose of the event is to showcase the successful platform that is bringing Black-owned businesses and communities together and creating cooperation and unity.
The forum poses a call to action for those who want to stop just talking about the problem and want to take action in this new solution for African Americans nationwide.
This mission is currently underway primarily through a national online community and established and expanding local networks.
According to Black Enterprise Magazine, African Americans spent about $1.1 trillion in 2015.
For Nataki Kambon, a spokesperson for the movement, “it's not about trillions. It’s about each of us using our own personal buying power to improve our own lives right now and the lives of my community and the next generation.
Shifting the focus from the 'we should' to the 'I can' makes it an individual call to action with collective benefits. This is a call to begin building capacity in the community through leveraging knowledge and resources on the Black Star resource guide online so that everyone can have access to these resources,” said Nataki.
The movement exists to shatter stereotypes and dispel myths that there are a lack of Black owned business and manufacturers. The national partnerships with businesses such as Freedom Paper Company, the first African American manufacturer of bathroom tissue & paper products is a great example of corporations that are committed to the initiative.
The five important goals of LetsBuyBlack365 are to 1) empower Black people through committed black-owned businesses 2) create vehicles to empower young people with opportunities for the present and the future 3) strengthen consumer confidence in Black businesses 4) infuse capital in targeted enterprises that can increase the availability of sustainable jobs and career opportunities for our people and 5) be a hub for dialog and action around economic empowerment.
Overall, these targeted goals will help recirculate money within the community and create avenues for new business to grow and blossom.
For more information regarding LetsBuyBlack365, visit www.letsbuyblack365.com or
contact info@letsbuyblack365.com
SOURCE: http://www.blackstarnews.com/money/economy/black-economic-empowerment-2016-campaign-launched-online.html
Friday, 11 March 2016
BBC NEWS
Chris Hani's killer Janusz Walus given parole in South Africa
AFP
A court in South Africa has ruled that the killer of anti-apartheid hero Chris Hani should be freed on parole after more than 22 years in prison.
Hani's widow, Limpho condemned the white judge's decision to free Janusz Walus as racist.
Walus' lawyers argued he should be freed in the spirit of reconciliation.
He was convicted in October 1993 and was serving a life sentence for the murder which threatened to derail South Africa's transition to democracy.
"It's very sad for South Africa. It's a very sad day. I am not upset, but I am highly irritated that this white woman can tell me how to feel," Ms Hani told the BBC's Milton Nkosi.
"She comes with a white superiority complex to tell me I should forgive, I should move on. It is not her husband that was murdered."
The government had previously refused to grant Walus parole as he was said to have shown no remorse.
Judge Janse van Nieuwenhuizen, at the High Court in the capital, Pretoria, ruled that Walus should be freed in two weeks' time, and a parole board should set the conditions for his release.
AFP
AP
The justice ministry said it would study the judgement, before deciding whether to appeal.
The South African Communist Party (SACP), which Hani led at the time of his death, also reacted with disappointment.
South Africa's Truth and Reconciliation Commission, formed after minority rule ended in April 1994, refused to give Walus amnesty.
Hani was shot dead by Walus while picking up the morning newspapers from his driveway at his home in Boksburg, east of Johannesburg.
Regarded as the most popular politician in South Africa after Nelson Mandela, he was also head of the military wing of the African National Congress (ANC), the former liberation movement which is now in power.
Analysis: Farouk Chothia, BBC News
AFP
The murder of Hani backfired on South Africa's white supremacists. They hoped that the killing of a politician who was idolised by most black people but hated by many of their white counterparts would escalate conflict in South Africa, and open the way for them to seize power in the ensuing chaos.
But the opposite happened, as it galvanised Mr Mandela to press South Africa's then-President FW de Klerk to set a date for the first democratic election to end centuries of racial oppression.
Mr De Klerk agreed, and power ebbed away from him with Mr Mandela becoming South Africa's first black president just over a year later.
Walus, who killed Mr Hani by shooting him at point-blank range in the chin, behind the ear and in the chest, is alive only because Mr Mandela's ANC abolished the death penalty, believing that it should not do what the former regime had done - execute its enemies.
Walus, 63, was involved in far-right politics, and opposed moves to end apartheid, which legalised discrimination against black people.
The decision to free him was a "great disappointment", but not surprising because the judge "kept asking questions which suggested that she will make an order such as the one she made", said SACP spokesman Alex Mashilo, the local Eyewitness News reports.
Walus had been sentenced to death, but this was commuted to life after South Africa abolished the death penalty at the end of minority rule.
His co-conspirator in the murder, Clive Derby-Lewis, was released on parole in June 2015.
Derby-Lewis, 79, had given Walus the gun used to kill Hani.
SOURCE: BBC NEWS
SOURCE: BBC NEWS
Thursday, 10 March 2016
BUSINESS DAY NEWS
Definition of black industrialist ‘is strict’
Trade and Industry Minister Rob Davies. Picture: TREVOR SAMSON
THE definition of a black industrialist will be strict and tight, according to Trade and Industry Minister Rob Davies.
But Mr Davies, who spoke to Business Day on Tuesday, did not specify the basis of the assertion or say whether he was referring to fronting, which has dogged black economic empowerment (BEE).
The Broad-based Black Economic Empowerment Amendment Act, which came into effect in October last year, made fronting a criminal offence.
The state will be strict in determining who qualifies for the multibillion-rand scheme to bolster the creation of large and competitive black industrialists.
"This (policy) is not a way someone can dress themselves up differently and call themselves an industrialist," Mr Davies said.
Last month he said no black industrialists had been chosen for the programme as a policy framework was still to be approved by the Cabinet. Last year the department established the black industrialists’ development programme, which aims to create more than 100 industrialists within three years in an effort to revive the sector.
On Monday Economic Development Minister Ebrahim Patel said the Industrial Development Corporation would spend R23bn to fund more than 100 black industrialists in the next three years.
The state will help black-owned manufacturing companies access finance and markets, develop skills, and improve quality and productivity, according to the scheme’s outline.
Mr Davies said the black industrialist policy still had to go through final Cabinet processes before more details on qualifying criteria could be made public.
He said the manufacturing sector remained the most "untransformed" in the economy.
"We are now applying the codes of good practice as required under the amended BEE Act, which means we will be making requirements on people that draw on our incentives that they develop a BEE programme," Mr Davies said.
A number of companies had benefited from the department’s support measures, including clothing and textile companies through the competitiveness improvement programme, he said.
Mr Davies visited the factory of Prestige Clothing, the manufacturing arm of The Foschini Group, which he said had made progress after improving its production through the programme.
Prestige Clothing CEO Graham Choice said of the 6-million garments sold to TFG’s retailers last year, 41% went from concept to store in under 56 days.
BUSINESS DAY NEWS
Blacks urged ‘to build, make things’
Economic Development Minister Ebrahim Patel: 'We want to say to fellow black South Africans ‘get into the economy — build things and make things.’ Picture: TREVOR SAMSON
THE government is intent on increasing competitiveness in SA’s economy through preferential procurement and developing black industrialists, says Economic Development Minister Ebrahim Patel.
Empowerment through equity alone has limited value, and black South Africans must be able to produce goods and services using localised inputs for sale in SA and the rest of Africa, he said on Monday on the sidelines of the results presentation of the Industrial Development Corporation (IDC).
"If we don’t watch (the creation of black equity stakes in businesses) carefully it simply becomes like a tax on companies. We want to say to fellow black South Africans ‘get into the economy — build things and make things’," he said.
The IDC said on Monday it had spent R5.9bn on 85 empowerment transactions in the 2014-15 financial year. This was more than half of the total R10.9bn disbursed during the year, which was close to the previous year’s R11.2bn.
The development finance institution raised borrowings from R21bn to R24bn, increasing financing costs in the period. Operating profit fell 60%, but profit for the year rose a marginal 1% on gains in equity accounted investments.
IDC chief financial officer Gert Gouws said total impairments had declined. But the corporation had made a book loss of about R17bn on its investments in blue-chip companies amid the global commodities rout. These included big losses on Kumba Iron Ore, Sasol and steel maker ArcelorMittal.
However, there was still plenty of financing headroom, despite the IDC’s debt to equity ratio in the year rising to 27% from 20%. The board had a mandated debt to equity ratio of 50%, he said.
Mr Patel reiterated that the IDC would spend R23bn to fund more than 100 black industrialists within the next three years.
This was about 22% of budgeted IDC investment over the next five years.
Another R4.5bn would be spent on women and youth-empowered businesses each.
The IDC had boosted industrial funding over the past five years to R61bn and would raise this to R100bn in the next five years.
Private sector contributions should double this amount, on the basis of a historical ratio of R2 of private sector funding for every R1 of IDC spending over the past decade.
In the past 21 years the IDC had provided R28bn to black-owned businesses, and more than R53bn for general black economic empowerment.
In the last financial year it had refocused spending from renewable energy to manufacturing, mining and infrastructure.
Wednesday, 9 March 2016
BLACK ECONOMIC EMPOWERMENT NEWS
Shell, NEF cooperate on transforming retail petroleum industry
Petroleum product supplier Shell Oil Company and the National Empowerment Fund (NEF), under the auspices of the Department of Trade and Industry, on Thursday entered into a cooperative agreement to assist black South Africans wanting to own and operate service stations.
Through this initiative, Shell was aiming to ensure that 40% of its service stations were black-owned by 2017. “The energy sector was the first to adopt a transformation charter and it is in line with that trend that Shell’s ground-breaking target of 40% black-owned service stations is coming to life,” said NEF CEO Philisiwe Mthethwa.
Shell South Africa chairperson Bonang Mohale noted that Shell’s aim was to to select high-quality brand ambassadors who would receive the necessary training by qualified Shell Retail trainers.
Once the selection and training process was complete, Shell would facilitate a retail site handover, which involved essential mentoring and support in the initial phases of the business operation.
“We want to ensure that we do not only comply to the rules and regulations governing the industry, but we also attain leadership status in the transformation area,” he noted.
“We want to ensure that we do not only comply to the rules and regulations governing the industry, but we also attain leadership status in the transformation area,” he noted.
Mthethwa added that, within the NEF’s franchise portfolio of R709-million, service stations ranked as the most successful.
The review of the Liquid Fuels Charter – a regulation that provided a framework for empowering black South Africans in the petroleum industry, revealed that one of the major barriers to entry for black entrants in operating and owning service stations was a lack of access to capital.
To address this challenge, the Shell and NEF partnership would result in the provision of funding to black retailers with a majority share of no less than 51%.
To date, the NEF has invested R300-million in the acquisition of 63 petroleum service stations that were owned and managed by black entrepreneurs countrywide, with these stations supporting 1 920 jobs. The NEF’s total funded portfolio exceeded R7.1-billion, while strategic industrial projects were valued at over R27-billion.
Source: engineeringnews
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