Pri­vate sec­tor called out

The Citizen (KZN) - - Business -

Pres­i­dent Cyril Ramaphosa urged busi­nesses to do more to end the legacy of apartheid and give black peo­ple a mean­ing­ful role in the econ­omy, only a week after com­ing un­der fire for ap­point­ing a white man as head of the coun­try’s largest state-owned com­pany.

“The sig­nif­i­cant progress made in the pub­lic sec­tor has not been matched by the pri­vate sec­tor,” the pres­i­dent said in his weekly let­ter to the coun­try yes­ter­day. “Busi­ness needs to ur­gently do some se­ri­ous in­tro­spec­tion. Our trans­for­ma­tive agenda can­not suc­ceed un­less we work to­gether to broaden the par­tic­i­pa­tion of all South Africans in our econ­omy, and it be­gins in the work­place.”

Ramaphosa’s de­mand for greater in­clu­sion comes after his gov­ern­ment was crit­i­cised for nam­ing An­dre de Ruyter as CEO of Eskom. The com­pany’s two largest unions said the ap­point­ment was a set­back for racial trans­for­ma­tion, while the Eco­nomic Free­dom Fight­ers said it was a de­lib­er­ate at­tempt to di­min­ish the role Africans play in the econ­omy.

“Re­dress con­tin­ues to be a cru­cial pil­lar of gov­ern­ment pol­icy, whether it is in land re­form, em­ploy­ment equity or in eco­nomic trans­for­ma­tion,” Ramaphosa said in yes­ter­day’s open let­ter.

– Bloomberg

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