FABCOS, Cape Town
- Address
-
Gleetway house, 6th Floor, Cnr. Martin Hammerschlag Way & Cross Street
Foreshore, Cape Town
8000
South Africa - Ads
- Phone:
- 021 421 0157
- Fax:
- 021 428 8883
- Website:
- http://www.fabcos.co.za/overview/origins.htm
FABCOS was founded in 1988 by the following visionary business leaders James Ngcoya; Dr Ellen Kuzwayo; Joas Mogale; Andrew Lukhele; Jabu Mabuza; Sam Tuntubele; Zithulele ("KK") Combi; Knox Tsotsobe; and current Chairman of the Board of Patrons Sam Buthelezi.
They understood that with political liberation imminent, Black business people from the informal sector would require organization and proper representation to ensure that the political transformation for them would result in tangible economic improvements.
The Founding Vision of FABCOS at the time was, and still remains, to ensure that informal Black business becomes part of the mainstream of the South African economy. Its strategic focus then centered on the circulation of the Black Rand; meaning that moneys spent by Black consumers, circulate first in the areas populated by Black people, before finding its way back to the essentially white-owned economy. By definition therefore, the FABCOS geographical sphere of operation was the township and rural areas.