Among others, senior government officials are set to attend the showpiece, these include provincial government ministers, including the premier of Limpopo Stanley Mathabatha and members of the Black Business Executive Circle (BBEC) and representatives of successful businesses.
The Kaelo Awards, which have been running for 12 years, honour entrepreneurs who have established successful businesses and senior executives appointed over the preceding year.
The event is expected to run until 27 July 2014 with the gala dinner being hosted on 26 July 2014.
Introduced in 2002, the Kaelo Awards’ key strategic objective is acknowledging newly appointed senior black executives both in the private sector and government.
This year will see 20 celebrants being awarded which coincides with the country's 20 years of democracy.
According to the BBEC, By recognising, honouring the work and efforts made by individuals and enterprises in South Africa, the circle is embracing government’s call to work together in order to move the country forward.
Commenting to CNBC Africa.com, Trudy Mackay Sekokotla of Mackay Communications Solutions noted that awards were important because they honour entrepreneurs who have established successful businesses and senior executives appointed over the preceding year.
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She also added that this helped in promoting the spirit of success, innovation and good business ethics in our economy.
The BBEC explained that over the past 20 years of South Africa’s democracy, the country has laid the foundation for becoming a better place to live in and do business.
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According to BBEC, the success of the recipients of these prestigious awards, demonstrate that the country promotes innovation and success, and that opportunities are being utilised to grow and prosper businesses.
The event is being sponsored by Investec Asset Management, Sasol, Audi, Sizwe Nstaluba Gobodo, Nyapotse and Pernod Ricard.
The BBEC is an exclusively blacks platform seeking to promote people who are previously disadvantaged through racial discrimination.
The platform also promotes networking opportunities for the advancement of black business entrepreneurs.
Previous winners include, Ndaba Ntsele entrepreneur and president of the Black Business Council (BBC), Gwarega Mangozhe the chief executive of Consumer Goods Council of South Africa (CGCSA) and Ayanda Mbanga, deputy group chief executive of Saatchi & Saatchi.