Voices| The government must ensure that the valuable equity in black hands is nurtured, harnessed and grown. Ramaphosa dare not fail, writes president of the Black Business Council Sandile Zungu
Add poor economic growth and pervasive corruption and we have a potent mixture of challenges that can destroy our nation.
The same goes for the brazen looting of the government pension fund and white-collar crime that continues unabated within corporate South Africa. The president does not and should not direct prosecutions. He shouldn’t have to. The government must ensure that the valuable equity in black hands is nurtured, harnessed and grown. Ramaphosa must ensure that commerce and industry is brought closer to where black people live.
That’s how the sixth administration can begin to undermine the colonial and apartheid spatial planning heritage. Private sector banks, including the envisaged black bank, must also come to the party. Our youth must be supported through access to grant funding for research and development, which will enable them to service the 7 billion-plus global consumer and corporate markets.
The NEF was set up by the government to fund broad-based black economic empowerment, yet it is grossly undercapitalised. It can be reasonably concluded that the NEF has been begrudged and set up to fail in pursuit of its noble mission.It is a shame that 25 years since the advent of our democracy South Africa does not have a black bank – a bank that is majority-owned by black South Africans and possesses the scale and scope for retail and corporate banking.
The BBC long ago pleaded for the repeal of the act, which pleas were acceded to, but not implemented.Last, but not least, the reduction of the size of the executive is of critical importance. The Cabinet is evidently unwieldy and its effectiveness questionable.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OPEN LETTER: Dear President Cyril Ramaphosa, please revisit our pay differentialsOur current pay scales, as formalised in the Employment Equity Act, are loosely based on the Paterson System. But a crucial category of that system has been left out, and it's time to fix that error, writes Graham Giles.
Read more »
Satanic murder accused: ‘I am very sorry’The youngest accused in the Krugersdorp murder trial addresses the family of those she had help to kill
Read more »
I am still the mayor - Zandile Gumede | The MercurySpeaking to Independent Media shortly after she was granted R50000 bail and told to surrender her passport and not to interfere with witnesses, Gumede said she would continue as mayor as “these are mere allegations”. TheMercurySA
Read more »
Wendy Williams is happily single: ‘I am working on my divorce pleasantly’Daytime show host Wendy Williams recently cleared the air on dating rumours, being a bachelorette and how she’s navigating her divorce.
Read more »
President Ramaphosa must act swiftly and decisively to prevent state failure | IOL NewsSince the late 1990s, the transformation of the state apparatus has been used as a pretext for patronage.
Read more »
DUMA GQUBULE: Ramaphosa’s stimulus plan will need out-of-the-box thinkingDUMA GQUBULE: Ramaphosa’s stimulus plan will need out-of-the-box thinking 🔒
Read more »
EDITORIAL: SA needs a successful Cyril RamaphosaThat it was not just ANC supporters who backed the president is a positive reinforcement of our democracy and good for social cohesion and nation building
Read more »
SAHRC: More needs to be done to protect rights of LGBTI, GNC communities | IOL NewsThe SAHRC said despite constitutional and legislature protection for LGBTI and GNC people, the rights and violations of these ...
Read more »
LETTER TO THE EDITOR: Dear Mr President, beware the long knives as you try to build ANC unityUprooting corruption is a mammoth task, especially when so many within the ANC are plotting against the president. But unless Cyril Ramaphosa succeeds, we could be headed down the Nigerian path of institutionalised graft, writes Sello Lediga.
Read more »
'I am Batman'.... 5 actors who could take on the role
Read more »