South Africa is at a crucial juncture, balancing the competing objectives of growing our economy to support jobs while transforming it to address the massive inequality of wealth, income and class mobility largely linked to our past. Ten percent of South Africans control more than 70% of the country's household net wealth, and unemployment is at 28% (or 36% more broadly) and 63% among our youth, as confirmed by recent World Bank and StatsSA reports, respectively. How do corporations help to change this status quo and begin to have a real social impact? Should we spend more on social investment initiatives, training programmes or charitable causes? A more holistic approach is required. Sasol spends significant sums on many great causes. While our fence-line communities appreciate such investments, what they really want is personal dignity, to which jobs are a significant contributor. What they really want, and in fact demand, is genuine economic participation. South African companies...
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