Association of South African Chambers (ASAC) Chairperson Melanie Veness said in a statement on Friday that they would not be supporting the Department of Trade, Industry and Competition (DTIC) proposed transformation fund.File Picture : Marilyn Bernard
Association of South African Chambers (ASAC) said in a statement on Friday that they would not be supporting the Department of Trade, Industry and Competition (DTIC) proposed transformation fund. ASAC also said that they are not affiliated with the South African Chamber of Commerce & Industry (SACCI) and distanced themselves from SACCI and their support of the transformation fund.
Melanie Veness, Chairperson of ASAC, said that we are not, in any way, affiliated to the South African Chamber of Commerce & Industry (SACCI). “SACCI does not represent our views. We particularly wish to distance ourselves from the position taken by the President of SACCI in a recent television interview regarding the DTIC’s proposed transformation fund.”
Veness added that ASAC embraces transformation as an economic imperative but supports Business Unity South Africa (BUSA) in opposing the establishment of such a fund. “Firstly, because we already have a mechanism in place (BBBEE) so this would amount to a form of double taxation, and secondly, we are of the strong opinion that it will not yield the desired outcome.”
Veness said that we are at the coalface of business, empowering black-owned enterprises and supporting their sustainability as part of our mandate, so we know what interventions are working and which are not. “Business doesn’t need an additional tax, we need the government to enable us to do what we do best and to create an enabling environment for our members to operate in.
It’s becoming more and more impossible for local companies to compete globally, given the operating environment, and we’re making it increasingly difficult to attract the level of investment that we need to address our unacceptably high levels of unemployment.”
Veness added that the DTIC has for years neglected its primary mandate, which is to create an enabling environment that stimulates investment and growth. “Onerous policies and an unconducive environment are what is causing the South African economy to seriously underperform, so we’d encourage the Minister to prioritize interventions that address these challenges. We really can’t afford to make things worse.”
Veness said that ASAC is a voluntary apolitical association established in 2019 by the country’s largest chambers, namely the Cape Chamber of Commerce & Industry, Durban Chamber of Commerce & Industry Pietermaritzburg & Midlands Chamber of Business, Nelson Mandela Bay Business Chamber, Border Kei Chamber of Business and the Johannesburg Chamber of Commerce & Industry.
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