Black business reaches out to foreign peers

THE Black Business Council (BBC) signed a memorandum of understanding with the Federation of Indian Chambers of Commerce and Industry yesterday in what could be an attempt to improve its profile and pave the way for business ties.

The BBC was looking to position itself as a competitor to Business Unity SA (Busa), the organised business interest group which sits in SA’s main policy chambers, including the National Economic Development and Labour Council.

The BBC broke away from Busa last year, saying it was not trans- forming business quickly enough. Signing the memorandum of understanding on behalf of the federation, Sun Group CEO Vikramjit Singh Sahney said SA and India needed to work to strengthen their business links which, in turn, would contribute to increased trade, investment, employment and technology transfer.

BBC CEO Xolani Qubeka said: “The role of the heroes of the Indian community in the attainment of freedom in our country is well documented and we are proud today to take this linkage to a higher level, by formalising our ties as South Africans and as the Black Business Council, which is the representative of the largest movement of black business community with the Federation of Indian Chambers of Commerce and Industry.”

The Indian high commissioner to SA, Virendra Gupta said: “Business people from India are more than keen to explore opportunities. India is the largest importer of South African coal.

“This relationship is helping both countries benefit,” Mr Gupta added. Alistair Anderson