Bantu Homelands Development Corporations Act

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The Bantu Homelands Development Corporations Act ( Act No. 86/1965 ), German law for the development societies of the Bantu homelands , was a South African law during the apartheid period that enabled the government of the time to set up state institutions in the homelands to promote economic development to found. The responsibility was the responsibility of the Minister for Bantu Administration and Development .

purpose

Each of these societies was directed by a board of directors whose members were appointed by the minister. According to the official specifications, the responsibility of the development companies extended to the planning and promotion of economic developments as well as general welfare and progress in the homelands and their people.

The development companies also had powers for those settlement areas that are surrounded by homeland areas and are administratively assigned to it, but not for those that were intended for gainful activities or the property of non-Africans.

According to the Minister for Bantu Administration and Development in the second parliamentary debate on this law, the directorates should be filled with white representatives. The Development Corporations did not have their own profit target, but they were authorized to borrow capital from whites. Your shares are to be transferred exclusively to the South African Bantu Trust . Responsibility for tenders and the employment of project managers was also planned.

Establishments in the homelands

  • Xhosa Development Corporation , founded in 1968. It served the project development in the homelands Transkei and Ciskei .
  • Bophuthatswana National Development Corporation , founded in 1975
  • KwaZulu Development Corporation (KDC), founded by Proclamation R73 of 1978
In 1984 the company was renamed KwaZulu Finance and Investment Corporation Limited , or KFC for short ( KwaZulu Corporations Act ( Act No. 14 of 1984 of KwaZulu )).
1999 renamed Ithala Development Finance Corporation Limited ( KwaZulu-Natal Ithala Development Finance Corporation Act (Act No. 2/1999 ) of March 2, 1999)
  • Qwaqwa Development Corporation
  • Lebowa Development Corporation
  • KaNgwane Economic Development Corporation

literature

Web link

Individual evidence

  1. ^ Ithala SOC Limited: Ithala Development Finance Corporation. History . on www.ithala.co.za (English)