Gigaba to unpack transformation
Finance minister set to meet young entrepreneurs
FINANCE Minister Malusi Gigaba is expected to speak on radical economic transformation during a business breakfast with members of the Progressive Youth in Business (PYB) at the East London Golf Club tomorrow.
The event is themed “the role of entrepreneurs in unlocking radical economic transformation”.
PYB provincial chairwoman Buhle Tonise, a local attorney, said after a lot of hype around the radical economic transformation policy, they realised there was a lot that still needs to be unpacked around the policy.
Tonise said the event aimed to advance both the advocacy of radical economic transformation and its implementation with all stakeholders involved.
“Some people believe it means a smash-and-grab approach for the previously disadvantaged and some think it means handing over the economy to the less experienced,” Tonise said. “As the PYB, we believe after this programme, all stakeholders will have a clearer picture of how government aims to implement radical economic transformation and what role entrepreneurs generally, and youth entrepreneurs in particular, will play.”
She said following an announcement by Gigaba at the ANC national conference that he supported radical economic transformation, it was time for the implementation.
ANC provincial treasurer Babalo Madikizela and provincial treasury MEC Sakhumzi Somyo will be among those who will give addresses at the gathering.
“The treasurer, Madikizela, is a seasoned business man with a clear understanding of all the dynamics of starting a business in a mostly rural province. He should be taking up discussions with the minister that will culminate in him making certain undertakings that can form the basis of a memorandum of understanding between the PYB and the ministry,” Tonise said.
This will be in terms of unlocking economic opportunities that will breathe life into the radical economic transformation programme.
Buffalo City Metro mayor Xola Pakati will welcome the guests.
The event happens at the same time as ANC national leaders are in town to celebrate the 106th year since the establishment of the ANC.
Members and supporters of the ruling party have started flocking to the city in preparation for Saturday’s event.
This will mark an increase in turnover for businesses, mostly in the accommodation sector. —