Latest News & Developments
Nafcoc is urging Minister Enoch Godongwana to assist in reclaiming African Bank Holdings, a financial institution that once served millions of black South Africans. This article explores Nafcoc's historical ties to the bank and its ongoing efforts to restore ownership amidst financial challenges.
During a 60th anniversary celebration in Durban, former KwaZulu-Natal premier Zweli Mkhize credited Nafcoc for advancing black economic interests through establishing African Bank and fighting against discriminatory apartheid laws that prevented black South Africans from trading and owning land.
Small Business Minister Ndabeni-Abrahams unveils strict new licensing measures and a R500 million fund to protect South African township businesses from illegal foreign operators, while rejecting accusations of xenophobia.
Former Statistician-General Pali Lehohla has called on organised black businesses to consider acquiring the struggling retail giant Pick n Pay, highlighting the R3. 6 trillion spending power of black South African households. Speaking at Nafcoc's 60th anniversary event, Lehohla questioned why black consumers remain without ownership stakes in major retailers despite their significant economic influence.