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. 

Support the journalism that helps you navigate your world

Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Looking for another offer?

We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Duma Gqubule
Duma Gqubule is a financial journalist, analyst, researcher and adviser on issues of economic development and transformation

Related stories

WELCOME TO YOUR M&G

Already a subscriber? Sign in here

Advertising

Latest stories

Links between colleges, industry vital

Weak partnerships with industry and poor curriculum choices are among the factors driving unemployment among graduates

‘South Africa on a path to unjust transition’

The country needs a greener economy but energy specialists say policymakers must ensure the creation of a fairer economy in the process

Whistleblower helps SIU in diamonds corruption raid

The SIU alleges fraud and graft in state mining company's procurement

SA Mint launches rhino coin

The coins are produced in limited quantities ranging from 500 to 2 000, depending on the demand
Advertising

press releases

Loading latest Press Releases…
×