The National Executive Committee of NAFCOC would like to thank all our affiliated members, associates and black
businesses at large for their participation and support during the memorial service and dignified send-off occasion
of our founding and first President of NAFCOC Dr. Richard Maponya.
IN HONOR OF DR. RICHARD MAPONYA
In honouring this iconic and greatest Stalwart and founding President Dr Maponya, who is popularly known as the
Father of self-propelled business and entrepreneurship of note, NAFCOC NEC has resolved to rename its Head
Quarters situated at RIVONIA to be called Dr. Richard Maponya House. It will be business learning centre of hope,
inspiration and the advancement of genuine black economic empowerment house. It will also serve as a reminder
for our youth and up and coming young entrepreneurs in particular about the Rivonia Trialists’ quest for a more
inclusive and radical economic transformation
We call upon all South Africans and in particular, the united black businesses to intensify calls for inclusive
economic transformation in honour of the late prominent entrepreneur, Dr Richard Maponya for advancing the
dreams and vision of our greatest struggle icon OR Tambo.
In consolidating the genuine commitment of our government, our radical economic transformation and the
provision of a permanent solution for eradicating unemployment, inequality and poverty, NAFCOC Council,
members and South Africans should support the call for the return of the African bank to National African
Federated Chamber of Commerce and Industry ( NAFCOC) and call upon the South African Reserve Bank (SARB),
the board of the African bank, PIC and other shareholders to do an honourable thing by engaging NAFCOC before
any other entities and use the approach and spirit like that applied in the land restitution in order to resolve the
untransformed banking and financial services sector. To us this is now a Bank claim lodged at the SARB and
Treasury.
According to our Constitution, all displaced communities are entitled for land restitution and in this case NAFCOC
members must be treated the same and given their assets which is the African bank back. Should our democratic
government choose to close their ears and perhaps do what the National Party government did to our resource
strangled ailing African bank then, then our masses in general and black businesses in particular guided by the
leadership of NAFCOC must do to our democratic government what the people did to the apartheid government
on or before 1994 democratic election.
NAFCOC and black businesses can no longer be the spectators whilst the selected few in
collaboration with the Monopoly capital continue to consolidate minority ownership of all financial
institutions inclusive of the African bank by using the salient fronting of some amongst our people. For this,
NAFCOC established after the consultative engagements with Tambo in Lusaka during the early 1960’s upholds
the concept of Economic freedom in our lifetime.
In the spirit of Dr. Richard Maponya, let us call for an economic CODESA and find the true meaning and genuine
empowerment formula and the mechanisms of better implementation of radical economic transformation. Political
liberation without economic emancipation and control specifically by indigenous citizens of the republic shall have
no meaning in years to come.
Ends