ANC to stop monopoly practices and include smaller black businesses

ANC to stop monopoly practices and include smaller black businesses

The ruling party will make moves to put an end to monopoly practices according to Enoch Godongwana. This will see the ANC including small black businesses in the mainstream economy.

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The African National Congress has announced that it will be making moves to put an end to monopoly practices according to their economic transformation committee.

Enoch Godongwana, chair of the committee, says the state intends to make it easier for small businesses to get financing and to encourage support for local small and black-owned businesses.

According to Eyewitness News, government wants to stop monopolies from excluding small black businesses from the mainstream economy.

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Commenting at a briefing at Luthuli House yesterday, Godongwana says the ANC want to end anti-competitive behavior:

“Breakdown monopoly practices and structures that exclude new small and black businesses, and better use of the Competition Commission to open the economy [and] to make finance for small business more accessible and use state funding to buy mostly from South African businesses.”

Briefly.co.za gathered that this may have been in response to the term 'white monopoly capital' gaining growing popularity when referring to the majority of the wealthy in the country.

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Source: Briefly.co.za

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