AGENCIES operating under the umbrella of the department of trade and industry would receive R1,7 billion to promote black economic empowerment and small business development, Finance Minister Trevor Manuel said yesterday.
Delivering his Budget speech to Parliament, he said an additional R380 million would go to the National Empowerment Fund to promote broader participation in the economy.
A further R300 million would be allocated to the critical infrastructure programme to promote private sector investment. Manuel said another R300 million would be used to attract local and international film makers to South Africa.
An amount of R1,2 billion was set aside for science and technology, including R500 million for government’s contribution to the Square Kilometre Array telescope, should it be built in South Africa. The South African Research Network, aimed at providing low cost broadband links for the academic community, would get R95 million, while a further R60 million was allocated to set up science research chairs at major universities, Manuel said. – Sapa.