ANC lacks the political will to push economic transformation

Three decades after the first black economic empowerment (BEE) deal on the JSE, the ANC’s 1994 election pledge to deracialise the commanding heights of the apartheid economy is on its last legs and may never recover. President Cyril Ramaphosa’s newly appointed BEE Advisory Council is unlikely to inject a new sense of urgency to transform the economy to a reluctant government that has no political will to revive the project and confront powerful corporate interests, especially in mining and finance, which bullied it into making fatal policy compromises. 

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