JOHANNESBURG, South African Public Service and Administration Minister Faith Muthambi says she is determined to implement radical economic transformation through the public service.
Addressing the Black Business Council Roundtable Discussion here Tuesday, she said her Ministry, together with the Black Business Council, would work together to move South Africa forward.
She added that President Jacob Zuma had vowed that “economic transformation will take centre-stage” during his final term of office, and that the structure of the economy will be transformed through industrialisation, Broad-Based Black Economic Empowerment and through strengthening and expanding the role of the State in the economy.
Muthambi said the first phase of transition — consolidation of formal democracy — was complete. The country has entrenched all the necessary checks and balances such as free Press, independent judiciary, independent Chapter 9 institutions, and regular free and fair elections, she added.
However, this achievement is under threat owing to the unfinished business of economic transformation, she said. The situation is not any different in top management in which whites continue to rule the roost with 72 per cent demographic representation and Africans grossly under-represented with a measly 10 per cent, Muthambi said.
The second challenge facing the country is the persistence of the triple challenge of poverty, unemployment and inequality.
Muthambi said the objective of radical economic transformation is two-fold — to place the economy on a qualitatively different path that ensures more rapid, sustainable growth, higher investment, increased employment, reduced inequality and the second is to “deracialise the economy”.
She said transforming the productive structures and relations would be at the core of placing the economy on a qualitative path. This would require moving away from a situation where the country remains largely an exporter of primary products, she added.
She noted that Trade and Industry Minister Rob Davies had elaborated on the form and key elements of radical economic transformation, arguing that first, radical economic transformation must entail radical transformation of production relations, and secondly, it must lead to less conflictual, characterised by more equitable benefit-sharing and by less inequality.
Lastly, it must place job creation at the heart of work programmes and promote a more inclusive job-rich pattern of growth.
Source: NAM NEWS NETWORK