Funding to investors for new large-scale development projects up and coming in the City of Tshwane will only be available to the previously disadvantaged black community.

City mayor Kgosientso Ramokgopa announced on Thursday during his State of the Capital address that the municipality would enter into an agreement with public fund managers company the Public Investment Corporation (PIC) to set up the City of Tshwane Property Fund, which will be exclusively available to black players.

“We are unashamed about our transformation agenda. The fund is for black players and no one else. So we are able to entrench their participation in their area,” said Ramokgopa.

He said the memorandum of understanding would be signed in June and would assist in creating a structured approach towards the implementation of the city’s catalytic interventions as well as assisting with the establishment of the City of Tshwane Property Fund to leverage alternative resources for economic infrastructure.

“As someone is saying sies, let me repeat. The property fund is meant to benefit black players in this space and we are going to ensure transformation.

“The biggest mistake you can make when pursuing a transformation agenda is to be apologetic about it. We must pursue it unflinchingly, we are going to ensure that it happens,” Ramokgopa said, adding that not even the courts would stop it.

At the same time, the mayor used the opportunity to slam what he termed a racist agenda by some people in Valhalla, who have objected to a mosque coming up in the area.

As part of the city’s land parcel project, more than 170 parcels of land measuring in excess of 861 000 square metres have been handed over to the religious community, including a 10 000-square metre piece of land valued at R2.9 million, handed over to the Thaba Tshwane Islamic Centre Trust in Valhalla.

This move has seen opposition by some, who staged a protest in the area.

– news@citizen.co.za