National African Federated Chamber of Commerce

Last updated

The National African Federated Chamber of Commerce is a South African member body formed in 1964, which focused on the upliftment of black business people during Apartheid. It claims a membership of several hundred thousand and controls substantial investment funds.

Contents

Background

It was formed in Johannesburg in 1964 to promote black entrepreneurship and businesses. [1] : 77  Its origins are from a 1955 organisation, the African Chamber of Commerce. [1] : 77  It was restructured a national organisation in 1969 with regional branches. [1] : 77  Its founding president was the highly venerated late businessman, Richard Maponya. [1] : 77  Prominent businessman, Patrice Motsepe is a former president, with the presidency currently (2020) occupied by prominent businessman Sabelo Macingwane who is also a former CEO of the organisation.

Aims

The organisation had the following aims: [1] : 77 

  1. scrapping of discriminate measures against black business people;
  2. development of black capital;
  3. help establish a black middle-class.

References

  1. 1 2 3 4 5 Kotzé, H. J. (Hendrik Jacobus) (1991). Political organisations in South Africa : A-Z. Internet Archive. Cape Town : Tafelberg : Published in conjunction with the Centre For South African Politics at the University of Stellenbosch. ISBN   978-0-624-03042-3.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.