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.
Background
It was formed in Johannesburg in 1964 to promote black entrepreneurship and businesses. Its origins are from a 1955 organisation, the African Chamber of Commerce. It was restructured a national organisation in 1969 with regional branches. Its founding president was the highly venerated late businessman, Richard Maponya. 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:
- scrapping of discriminate measures against black business people;
- development of black capital;
- help establish a black middle-class.
References
- ^ 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.
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