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National African Federated Chamber of Commerce
From Wikipedia, the free encyclopedia
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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.
 | This article relies largely or entirely on a single source. (July 2025) |
Background
It was formed in Johannesburg in 1964 to promote black entrepreneurship and businesses.[1]: 77 Its origins are from a 1955 organisation, the African Chamber of Commerce.[1]: 77 It was restructured a national organisation in 1969 with regional branches.[1]: 77 Its founding president was the highly venerated late businessman, Richard Maponya.[1]: 77 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.
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Aims
The organisation had the following aims:[1]: 77
- scrapping of discriminate measures against black business people;
- development of black capital;
- help establish a black middle-class.
References
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