A company set up by traditional leaders and the private sector aims to give people in rural areas the opportunity to participate in South Africa's economy.
The United Royal Kingship Holdings (URKH) is wholly owned by the seven official royal kingdoms and was created after discussions between the ANC‚ government and traditional leaders.
The Department of Co-operative Governance‚ together with traditional leaders‚ the Gauteng government and the African National Congress‚ unveiled the company on Friday in Johannesburg.
"This has resulted in a situation where the traditional leaders and the private sector have created what you call United Royal Kingships Holdings company and foundation. These together are institutions to ensure inclusivity of rural people in the mainstream economy‚" said ANC treasurer general Zweli Mkhize.
"This‚ for us‚ is where we've gone beyond discussing radical economic transformation‚ but we are saying major corporates must find models which will be able to transfer some of the wealth to some rural communities and create platforms for participation of the rural communities in the mainstream economy."
The strategy focuses on financial services‚ mineral resources and beneficiation‚ fuel retailing‚ agriculture and agro-processing‚ health services‚ tourism‚ property‚ infrastructure services and media.
About 20 million people live in rural areas under the control of traditional leaders.
Co-operative Governance and Traditional Affairs Minister Des van Rooyen said this initiative is government’s willingness to improve working relationships with the traditional leaders.
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