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Black Industrialists’ plan to flow from transformation, BUSINESS REPORT (Cape Times)

Black Industrialists' plan to flow from transformation, BUSINESS REPORT (Cape Times)

RADICAL ICHANGE MMEDIATELY after the inauguration of the fifth democratic government of the Republic, the South African government announced its intention to restructure the economy; radically transforming it in a manner that will achieve inclusive and shared growth. This is in line with the objective of facilitating a better life for the broad mass of South Africans who have resided on the margins of the economy as engineered by the apartheid political and social system. On 22 July 2014, in delivering the Budget vote of the Department of Trade and Industry, we made the observation that “…even when the SA economy grew by 5 percent and above, it did not result in improved employment. Many other developing countries have experienced this; the benefits of high rates of economic growth can easily be captured by 'advantaged' parts of society to the detriment of the poor.”


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