All must benefit – Mkhize
ANC treasurer-general Zweli Mkhize said yesterday that radical economic transformation in South Africa must be implemented to the benefit of the majority of people and not a few individuals.
“What we understand as the ANC is that radical economic transformation must fundamentally change the structure of the economy, patterns and institutions that run our economy, to broaden it and deracialise our economy. It must be to the benefit of the majority of our people and not the benefit of the few,” he said.
“Radical economic transformation has not only to deliver to us improved incomes and reduction of unemployment and poverty, but it also has to offload a number of people that are really dependent on social grants. We cannot be a democratically elected governing party that presides over continued exclusion and marginalisation of our people.”
Mkhize was speaking at the Black Business Council summit on radical economic transformation in Sandton.
He said there was still a long way to go for transformation to take place, even at corporate level, pointing out that JSE Top40 companies were still dominated by white and foreign chief executives, with black chief executives only making up about 21%.
Mkhize said emerging blackowned businesses must not be prejudiced for doing business with government and be labelled as “intrinsically corrupt” and called names like “tenderpreneurs” while big companies do megaprojects and were the largest beneficiaries of government business.
Black Business Council president Danisa Baloyi said some black entrepreneurs were still facing “stumbling blocks”, especially from government institutions when trying to enter the markets, saying that they have identified these institutions and will be approaching them for talks.
“Make sure that you come with strategies that will enable us to find meaningful solutions to further this dialogue,” Baloyi said.
“Radical economic transformation is an imperative. Let us be honest about the state of our economy, about what we think we can change and what can work.” – ANA
We cannot be a democratically elected governing party that presides over continued exclusion and marginalisation of our people. Zweli Mkhize ANC treasurer-general