National African Federated Chamber of Commerce explained

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.[1] Its origins are from a 1955 organisation, the African Chamber of Commerce.[1] It was restructured a national organisation in 1969 with regional branches.[1] Its founding president was the highly venerated late businessman, Richard Maponya.[1] 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]

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

Notes and References

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

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