NAFCOC, SACOB AMALGAMATE

THE National African Chamber of Commerce (Nafcoc) and the South African Chamber of Commerce (Sacob) have announced their amalgamation to form a new company (Newco). Newco said the amalgamation was formalised last week when the governing principles for Newco were drawn up, which would “promote and practice democracy.” It would also be a non-racial lobbying group for South African business and would actively promote and encourage black economic empowerment.