Can Peter Mokaba meet Pravin G?

We need ’radical transformation’ to be more than just rhetoric

AFTER hearing Finance Minister Pravin Gordhan mention the word “transformation” more than 50 times in this year’s budget speech, I found myself thinking a lot about the importance of words and the difference between political rhetoric and the true meaning of politicians’ utterances.

The term “rhetoric” itself is defined as “speech designed to have a persuasive effect but which lacks in sincerity or meaningful content”.

President Jacob Zuma has for a while now been using the phrase “radical economic transformation” when reporting on the initiatives of his government in finding ways for the millions of disadvantaged black South Africans to effectively participate in the economy.

And then there is the EFF, which is the only opposition party in South Africa with the word “economic” in their name — in itself an innovative and bold statement. You will often hear them say “economic freedom in our lifetime” — capturing the imagination of millions of young South Africans who handsomely repaid them in last year’s local government elections.

During the budget speech, Gordhan gave a mini masterclass about the word “radical” in the context of economic transformation.

Standard Bank economist Simon Freemantle captured it best when he wrote in his Budget Speech Flash Note that “many within the ANC and state, aligned to the president, are seeking to argue that Mr Gordhan is incapable of elevating the ANC’s agenda in this regard, given their claim that he and the Treasury more broadly are defensive of the interests of ‘white monopoly capital’ at the expense of the livelihoods of the poor”.

But Gordhan also knew he could not simply agree with the president’s radical economic transformation narrative. He had to elevate the debate. He had to find a way to toe the movement line, without being seen to be a blind follower of rhetoric. As Freemantle says, he had to “find a sensitive line between acknowledging the need for change, while defending fiscal probity and economic calm”. And that’s exactly what he did. Even later on Wednesday evening, when I hosted Nedbank and Old Mutual’s 45-year-old Budget Speech Competition Awards dinner, Gordhan reiterated his argument that the term “radical” has a much more important connotation that is often missed in the slogans.

He may have a point.

Certainly, when I think of “radical”, the first image that comes to mind is a black-and-white video clip of Peter Mokaba leading a march, singing songs about killing other people in order for us to get our land back.

Of late, when I think of “radical” I think of the EFF’s political modus operandi. The red berets. The red overalls. The red makarabas. The red gumboots. The points of order. The press conferences in Alexandra. The marches to the JSE. That’s radical — not confined by any form of convention in the quest to drive their point across, whether you agree with it or not.

Gordhan argues that “radical” is not merely about placing slogans next to a cause. It is about going to the root cause of a problem and solving it at its core in order to derive sustainable outcomes. As its definition suggests, it is change that is fundamental in nature; farreaching and thorough.

The finance minister stated that he agreed with Zuma that a new perspective on economic transformation was required. However, “the litmus test of our programmes must be what they do to create jobs, eliminate poverty and narrow the inequality gap”.

“Transformation must be massbased, benefiting the most disadvantaged South Africans through the creation of new assets, capabilities and opportunities to build livelihoods,” he concluded.

The positive outcome is that at least our president and finance minister agree on something. Viva!

They may not agree on the connotation of the term “radical”, but then again I can’t shake the Peter Mokaba image either.

I just hope the Treasury and cabinet will put their money where their mouths are and legislate accordingly with this new “radical economic transformation” deal.

Perhaps the minister and the president could use this opportunity to realise that, when the majority of South Africans put their party in charge, they didn’t bank on personality clashes derailing their emancipation.

Now is the time for government to live out this radical economic transformation they keep talking about. For it to succeed, it needs a blend of the aggressive approach of Mokaba and the measured and methodical approach of Gordhan.

Otherwise, all the talk will simply be speech “designed to have a persuasive effect but which lacks in sincerity or meaningful content”.

Khumalo is chief investment officer of MSG Afrika and presents “Power Business” on Power 98.7 at 5pm, Monday to Thursday

’Radical’ is about going to the root cause of a problem and solving it at its core