The National African Federated Chamber of Commerce and Industry (Nafcoc) has launched the “Buy Black” campaign, which calls on black South Africans to redirect spending towards black-owned businesses to address systemic inequalities.
Speaking at Nafcoc’s 60th anniversary celebrations in Durban, Nafcoc president Gilbert Mosena said when black people buy goods produced by black businesses, they enhance unity among black South Africans in building a sustainable, inclusive, and self-reliant economy.
“Unity is critical for black business to thrive. Together, we can build a future where black businesses thrive, and every entrepreneur has the opportunity to succeed. The ‘Buy Black’ campaign is one of the key components of Nafcoc’s strategy to address these challenges and foster a culture of self-reliance among black South Africans,” he said.
Mosena said supporting black-owned businesses through the launch of the “Buy Black” campaign could no longer be postponed . He said the initiative will mobilise the spending power of the black middle class – estimated at R400bn a year – towards black-owned businesses. “The goal is to reinvest this wealth into our own communities, creating jobs, and empowering entrepreneurs to grow and sustain businesses that will have a meaningful impact on SA’s economic landscape,” he said.
“To achieve real progress, we must invest in our youth, empower our entrepreneurs with innovative skills, and create an environment where black-owned businesses can grow and flourish.”
Mosena said Nafcoc was committed to advocating for policies and initiatives that support black entrepreneurs. This includes expanding access to funding, networks, and markets, as well as pushing for a more inclusive approach to industrialisation. –
SowetanLIVE
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