BILLIONAIRE mining magnate Patrice Motsepe is to chair a steering committee that will eventually lead to the reformation of a black business body that will champion the sector's cause.
This, among other resolutions, was adopted yesterday at the conclusion of the black business summit following months of escalating tensions between various black business associations and Business Unity South Africa (Busa).
These tensions saw the secession of the Black Management Forum (BMF) from Busa a few months ago, culminating in yesterday's resolve to fully withdraw from the embattled organisation.
Yesterday's resolution will see Motsepe, who is also chairman of African Rainbow Minerals (ARM), assume chairmanship of a committee that will comprise presidents of "national organisations and black business stalwarts".
Other resolutions include the formation of a working group of 11 that would feed into the steering committee, defining a black business agenda which would include setting up a venture capital fund.
During the summit, commissions dealing with economic transformation, SMME development, infrastructure investment and the contentious issue of land reform, were also set up.
The summit resolved to establish a 15-year moratorium on the resale of land acquired through the land reform process.
Another matter of great concern related to the Construction Industry Development Board (CIDB) gradings, which the summit resolved to have "completely overhauled".
Black construction entrepreneurs have complained bitterly about this grading system, citing unfair exclusion on major construction projects.
The summit was attended by 14 organisations including the Association of Black Securities and Investment Professionals, BMF, Black Lawyers Association, and the African Federated Chamber of Commerce and Industry (Nafcoc).