Government must lead transformation agenda

Do not think the Guptas and their ilk are the antithesis of monopoly capital, writes from Bothaville.

Thabo Thwala

While the fight against monopoly capital must be intensified, we must not, however, make the mistake of thinking that the Guptas, or any similar business venture, are the antithesis of monopoly capital.

The aim of the struggle against colonialism was not about replacing white monopoly capital with any other colour of capital.

Capitalism always has its inherent elements and can’t be undone simply by substituting black faces for white ones.

Hence, people who say blacks must remain silent when it comes to the Gupta-style of doing business because the Guptas are a sign of “transformation” are wrong.

They don’t represent the second radical phase of transformation which the ANC resolved in 2012 in Mangaung.

A real radical transformation of the economy refers to a real shift from a capitalist approach to the economy.

Instead, the state must lead the transformation agenda and properly plan the economy.

Since the markets determine our economy, the state needs to move away from that route and focus on the needs of the people of South Africa and not merely be preoccupied about rating agencies.

The same argument applies to black economic empowerment (BEE). While the economy is controlled by a white male minority, it does not necessarily follow that imposing black faces transforms the economy.