Mashatile vows to shield R100bn transformation fund from corrupt hands
PRETORIA - Deputy President Paul Mashatile has pledged to implement measures to prevent corruption from collapsing the Transformation Fund.
The proposed fund seeks to raise R100 billion over the next five years, with contributions coming voluntarily from both the public and private sectors.
Some opposition parties have raised concerns, fearing the money could be stolen if anti-corruption measures aren't implemented.
The R100 billion fund's core mission is to support black-owned businesses and strengthen their role in driving the country's economic growth.
ALSO READ: Tau doesn't expect R100bn transformation fund to threaten existing B-BBEE legislation
Speaking at a business breakfast in Pretoria on Monday, Mashatile emphasised that the Transformation Fund must fulfil its intended purpose and remain free from corruption.
'We will not achieve an inclusive economy as long as corruption persists, both in the public and private sectors. Corruption hinders the growth of Small and Medium-sized Enterprises (SMEs) by increasing costs, reducing profits, and creating uncertainty.
'To promote an inclusive economy, we must commit to addressing corruption by strengthening our institutions, fostering transparency and accountability, and promoting citizen engagement. This includes developing and implementing robust anti-corruption frameworks, strengthening our criminal justice system, and encouraging public participation and oversight,' he detailed.
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