|  | Born out of the
political and economic disenfranchisement of yesteryear,
FABCOS is a catalyst that helps the formal and informal sectors of the
South African economy join together in mutually beneficial business
relationships.
It promotes the development and empowerment of black business, and
indirectly, the black community at large. Providing basic business
skills training, marketing expertise, research and management services,
and availing empowerment opportunities to its members.
Through participation in various forums like the National Economic
Development and Labour Council (NEDLAC), FABCOS, using its understanding
of the needs of emerging black entrepreneurs, influences government
policy to create an environment conducive to the nurturing and
development of black business.
Founded in 1988 under the visionary leadership of such people as James
Ngcoya, Dr Ellen Kuzwayo, Joas Mogale and Andrew Lukhele, FABCOS set out
to become a major player in the economic development of South Africa.
Particularly to accelerate meaningful participation of the emerging
black business class in the mainstream of the country's economy.
Restructuring
FABCOS recently reorganised its operations to create a structure that
enables the organisation to deliver services to its members more
efficiently and effectively. This restructuring was also in line with
the post-1994 political landscape that resulted in the creation of nine
provincial governments.
In addition to the policy body of FABCOS, directed by the national
executive council, the FABCOS restructuring includes two distinct
operational entities: FABCOS Section 21 Company, a
non-profit making
company that was created to focus on the development needs of FABCOS
members. And FABCOS Investment Holding Company Limited
(FABHOLD), which
focuses on the commercial and investment affairs of the organisation.
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