JOHANNESBURG, May 5 (Xinhua) -- The South African government is planning to launch a new fund to boost equitable economic growth as the country faces intensified inequality, said officials on Monday.
The Transformation Fund is a 100-billion-rand (about 5.47 billion U.S. dollars) project to support black-owned businesses and small, medium, and micro enterprises. It is designed to tackle South Africa's current economic challenges, modernize critical infrastructure, and scale up renewable energy solutions, according to the Department of Trade, Industry and Competition.
