Nkosazana Dlamini-Zuma argues that it is unacceptable that the white minority controls the economy. But what are the facts? The government is part of the economy. Government spending constitutes 30% of GDP. Besides the government itself, hundreds of state-owned enterprises (SOEs) constitute another 20% of the economy. The private business sector, therefore, comprises only half of our economy. That half is not entirely white-controlled. By dint of the application of black economic empowerment rules, we are well on the way to 25% of each leading private company becoming black-owned and -controlled. It should be clear, therefore, that more than 50% of the economy is already black-controlled. That it may not suit certain politicians to admit this cannot change the facts. What would happen if there were to be a radical and immediate introduction of state control of the private sector? It is reasonable to assume that any nationalised companies would go the same way as the SOEs. Many are b...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.