Latest news with #departmentoftrade
SowetanLIVE
29-07-2025
- Business
- SowetanLIVE
Samsung opens its third call for black-owned tech SMM enterprises
Samsung and the department of trade, industry & competition have launched the third call of their R280m Equity Equivalent Investment Programme (EEIP), first introduced in 2019. Black-owned ICT and service centre SMMEs can now apply to join the 2024 Enterprise Development (ED) programme. The Samsung ED programme aims to empower black-owned ICT and service centre enterprises to boost the economy and create jobs through entrepreneurship and business support. This involves initiatives such as grant funding, specialist business development support and access to supply chain opportunities for black- and women-owned SMMEs. This programme's efforts are aligned with the country's transformation goals and aim to foster a more inclusive economy. Testimonials from the programme's beneficiaries To inspire potential future participants, coupled with Samsung's need to measure the impact and effectiveness of its CSR initiatives, the company spoke to two beneficiaries of the ED programme. Thoriso Rangata, a 32-year-old businessman and the owner of KTO Digital, says he gained the reassurance and confidence he needed from being part of the programme. KTO Digital focuses on business process automation, software development services, and background screening software as a service (SaaS) solutions. Based in Johannesburg, originally from Limpopo, Rangata responded to a public call for applications in 2020. At the time, his business needed support to meet the company's growth objectives. Ranagata is a true example of how the programme is empowering ICT entrepreneurship, stimulating job creation, and helping contribute to economic growth. Since being part of the EEIP programme, KTO Digital won the Nedbank Business of the Year Award in 2022, and in the same year, launched its own product and received accreditation as a credit bureau business. Since 2021, his business has created over 20 jobs, in line with the programme's objective of creating both direct and indirect jobs, with a particular emphasis on black-economic empowerment and developing the township economy.
TimesLIVE
09-07-2025
- Business
- TimesLIVE
Armchair critics are ignorant about processes of competition authorities
While some of the criticisms levied at the Competition Commission and the department of trade, industry and competition (DTIC) for how they deal with public interest considerations in terms of the Competition Act are justified, it is not reasonable or fair to suggest every lengthy tribunal merger process is the fault of the competition authorities. While in an ideal world merger processes would be fast-tracked in the interests of commercial certainty and efficiency, one has to bear in mind the competition authorities are there for a reason. They are there to protect the interests of customers and consumers. If the competition authorities don't carefully scrutinise problematic transactions, there is no reason for them to be there. Perhaps the solution in part is that mergers that don't present any issues should be approved as quickly as possible, and the Competition Commission and the DTIC should not try to use the public interest provisions of the Competition Act to achieve some form of economic realignment. One must also distinguish delays occasioned by the tribunal being understaffed from timing issues associated with a proper and careful assessment of transactions. The tribunal is understaffed, and there needs to be a concerted effort between the DTIC, the tribunal and the competition law community to seek to address the issue as soon as possible. Hopefully, if the situation can be remedied, this could fundamentally improve timing difficulties that arise from there not being sufficient tribunal members. However, the shortage of tribunal members does not detract from the responsibility and statutory obligation of the tribunal to carry out its mandate in relation to complex transactions. Ultimately it must be remembered there will always be a certain category of mergers that will require very careful scrutiny, and the competition authorities must be allowed to do their job in the interests of discharging their mandate to the public. Potentially the more insidious outcome from all the armchair criticism is that the competition authorities feel under pressure to wave transactions through that require more careful consideration. An appropriate balance needs to be struck between not compromising commercial efficiency and economic growth that comes from transaction-based commercial activity, while at the same time ensuring the competition authorities deliver on their statutory mandate and safeguard the interests of consumers and the public as a whole.
