PREMIUM FREE TRIAL

Ramaphosa beats the drum of radical economic transformation as presidential race hots up

Some onlookers have pondered why Cyril Ramaphosa appears to have twiddled his thumbs as President Jacob Zuma and his friends got their snouts into state coffers. Many hope he is playing a game of pretence, ultimately planning to whip the crown from under Nkosazana Dlamini Zuma’s feet and come to the rescue of the country. Ramaphosa’s comments to the Black Business Council this week indicate that he has bought into the idea that South Africa requires radical economic transformation. It’s the same drum that Dlamini Zuma has been beating as the presidential race hots up. – Jackie Cameron

By Tshidi Madia 

Johannesburg – The transformation of South Africa’s economy is inevitable, Deputy President Cyril Ramaphosa said on Wednesday evening.

He was speaking at the Black Business Council dinner under the theme Economic Recovery.

File Photo: Jacob Zuma, South Africa’s president, right, Baleke Mbete, the South African parliament’s speaker of the house, left, and Cyril Ramaphosa, South Africa’s deputy president, center, arrive at parliament to deliver the annual state-of-the-nation address in Cape Town, in February 2015. Photographer: Halden Krog/Bloomberg

“I would say to those who are dismissing this term, sit down, listen, smell the coffee…realise that the transformation of our economy is non-negotiable,” said Ramaphosa.

He said the government had hoped to create more sustainable growth, higher investment, increased employment, reduced inequality and to de-radicalise the economy.

It has to happen and it is going to happen whether people like it or not, it has to and it needs to, continued Ramaphosa.

The deputy president said radical economic transformation was essentially about building an inclusive and more collective economy in the country.

As South Africa moves closer to the ANC’s National elective conference in December and its policy conference in June many are paying even closer attention to its leaders, particularly Ramaphosa who said he was available for the role of becoming the ANC’s president when the incumbent Jacob Zuma steps down in December.

Ramaphosa is facing fierce competition for the role from former African Union chairperson Nkosazana Dlamini Zuma, who has herself made strong remarks regarding the need for radical economic transformation. Sharing similar views Ramaphosa said transformation is what leaders in the country have been called to do.

“It is in the end about building a more equal society, drawing one third of the working age South Africans into the mainstream,” said Ramaphosa.

South African president’s radical economic transformation. More magic available at www.zapiro.com

Ramaphosa, who received a warm reception from various business leaders in the room, also received rapturous applause when he was mistakenly called “Mr President” twice by the programme director George Sebulela, Secretary General of the BBC.

He said the government needed to increase the level of interventions that often leave some without getting assistance.

“Our political life at the moment is fractious, with public sentiments appearing to be more polarised and public discourse more charged and shriller than any other time since 1994,” he said. – Fin24

Source: http://www.fin24.com/Economy/transformation-of-sa-economy-non-negotiable-ramaphosa-20170419

For a deeper understanding of the world of money and greater financial control, upgrade to BizNews Premium.