Johannesburg - The Black Management Forum (BMF) has given newly-elected president of Business Unity SA (Busa) Futhi Mtoba its "full and unwavering support".
In a statement on Friday, the BMF said it wished to clear the air on what it termed "the Busa presidential furore".
"The BMF expresses regret at the confusion following the statement intended to decry the Goliath approach by big business in the Busa presidency race."
BMF president Jimmy Manyi said it was "unfortunate that a seasoned transformation agent like Futhi Mtoba got caught up in the cross-fire".
The BMF said Mtoba had its full support and that it had worked with her over "many years".
"Futhi's courageous strides in transformation work is out there for all to see."
Manyi said the target had been the issue of poor representation of black structures in Busa.
"Notwithstanding the understandable anger from some respectable people who may not have all the details, the issue of 'haves' in Busa crowding out the 'have-nots' continues to be a bugbear that needs urgent resolution if the unity process is to be sustained," Manyi said.
He said the BMF was pinning its hopes on Mtoba to ensure that the "much-needed" balance was achieved.
"The BMF will arrange an urgent meeting with the newly-elected president Futhi Mtoba to air its views with her directly and seek lasting solutions."
Manyi said the BMF was a "principle-based organisation" and not in the dirty business of character assassination.
Mtoba was elected Busa president on Tuesday at the organisation's annual general meeting.
Several organisations allied to Busa had supported Sandile Zungu - founder of Zungu Investment Company - for the position of Busa president.
The BMF issued a statement on Tuesday evening in which Mtoba's election was described as "a blow against transformation" and a victory for "the interests of established business".