RADICAL ECONOMIC TRANSFORMATION
Just three words but many views on how to achieve it in SA
The details on how to achieve a more inclusive economy are hazy, writes Sunita Menon
Radical economic transformation, a popular turn of phrase on the tip of many South African tongues, has been lambasted for being nothing more than a few platitudes on inclusion. It is a term the ANC adopted four years ago and President Jacob Zuma reiterated in 2017’s state of the nation address. While there is general consensus that the term calls for more inclusion in the economy, the details on how this is to be achieved are hazy. In the state of the nation address, Zuma called for SA to move beyond words and to create practical programmes. "What do we mean when we say radical economic transformation?" he asked. "We mean fundamental change in the structure, systems, institutions and patterns of ownership, management and control of the economy in favour of all South Africans, especially the poor, the majority of whom are African and female, as defined by the governing party, which makes policy for the democratic government." The president was hailed by business and labour alike for...
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