South African Family Advancement Act of 1988

South African Family Advancement Act of 1988 - Amends the Comprehensive Anti-Apartheid Act of 1986 to require U.S. nationals employing more than 25 persons in South Africa to establish a fund for assistance to black and other non-white South Africans for: (1) college or vocational training scholarships; (2) grants to schools and health clinics; (3) housing loans and counseling; (4) assistance to businesses; and (5) development of recreational facilities. Requires the fund to be financed by an amount equal to 25 percent of the payroll of such national's holding in South Africa and administered by a board of directors representing the holding, labor, and the local black community.