Academy of Entrepreneurship Journal (Print ISSN: 1087-9595; Online ISSN: 1528-2686)

Abstract

Transformative Mineral Resources Beneficiation Intervention Fostering Local Entrepreneurship in South Africa

Author(s): Peshley Thupane Kgoale,Kola Olusola Odeku

South Africa is facing tremendous unemployment problem and declining economy. As part of the strategic interventions to create jobs and grow the economy, the government has resolved to use its natural mineral resources spread over the length and breadth of South Africa to foster transformation, entrepreneurship, economic growth and development particularly regarding the previously disadvantaged black people who were deprived and denied access to equal participation in the country’s mineral resources during the apartheid regimes. Now that South Africa has become a constitutional democratic country in 1994, the black majority is in power and as such controls the utilization of the country’s mineral resources. However, twentyfive years in power, the government has not been able to translate the use of its mineral resources into meaningful economic transformation. Most of the mineral resources are being exported unprocessed as instead of processing and converting them to higher value product in South Africa by local entrepreneurs before exportation or for use locally. Against the backdrop of this, the paper discusses the intrinsic role of mineral resources inclusiveness and beneficiation as catalyst for equal participation, economic growth, and development in South Africa.