President Mbeki in his state of the nation address said the council would be called upon to look at steps needed for the effective implementation of South Africa’s empowerment legislation.
“It will also reflect on the ways and means we must adopt to take advantage of the existing black economic empowerment charters,” Mbeki said.
“The National Empowerment Fund will announce new financial and nonfinancial empowerment products within the next three months.
"In this context, we must bear in mind that government has provided R1-billion for black economic empowerment during the current fiscal year, with R10-billion provided for over the next five years.”
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