Chantelle Benjamin reports that Joe Hlongwane, speaking on behalf of the National African Chamber of Commerce (Nafcoc) at the M&G's 20 Years of Economic Transformation Conference, said that unemployed youth was a time bomb and the only solution was the development of a SMME champion in the form of a minister to drive the process. "If we cannot find a way to assist the school-leavers and university graduates and find a way to give them jobs, then you are creating a time bomb," he said. Hlongwane contended that the major problem with black economic empowerment was that "we did not concentrate on building companies from the bottom up, instead we bought into existing big business. There is no focus then on building the BEE sector." He indicated that SA needed "to improve the institutional frame work for SMME development, everything is frustrated by the silo approached by government. State organs are not talking to each other and I believe that this can be solved by the appointment of a SMME ministry."
- Read more at Mail & Guardian
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