<\/p>\n
President Cyril Ramaphosa delivered a forceful defence of Black Economic Empowerment (BEE) on Friday night, calling out its critics and questioning whether their opposition stems from fear or envy.<\/p>\n
Speaking at the Black Business Council\u2019s annual summit gala dinner at the Radisson Hotel and Convention Centre in Kempton Park, Ekurhuleni, Ramaphosa doubled down on the government\u2019s unwavering support for transformation policies aimed at redressing South Africa\u2019s deep-rooted inequalities.<\/p>\n
He reaffirmed plans to convene a national dialogue focused on tackling the country\u2019s most urgent socio-economic challenges \u2014 a process he said will be vital in shaping an inclusive and sustainable future.<\/p>\n
Ramaphosa argued that real economic growth will only be possible through meaningful transformation while highlighting the significance of the proposed Government of National Unity (GNU).<\/p>\n
\u201cFundamental economic transformation is vital to the growth of our economy and the progress of our nation. This transformation is necessary if we are to unlock the capabilities of all our people and realise the full potential of our economy,\u201d he said.<\/p>\n
He positioned the GNU as a platform for uniting stakeholders behind bold reforms that can drive change.<\/p>\n
\u201cTransformation is not a hindrance to growth \u2014 it is the engine of growth,\u201d Ramaphosa said, underscoring the role of legislative tools such as the Broad-Based Black Economic Empowerment (BBBEE) framework and the Employment Equity Act in building a more equitable economy.<\/p>\n
\u201cWe must dispense with the false choice that we are urged to make between growth and transformation. Transformation is vital if growth is to be meaningful, inclusive and sustainable.<\/p>\n
\u201cGrowth is essential if we are to effectively transform our economy. Our task is to ensure that we pursue both growth and transformation, in concert, with more vigour and to greater effect,\u201d he said.<\/p>\n
While acknowledging progress, the president was candid about the stark racial disparities that persist.<\/p>\n
He noted that the average income of white households remains nearly five times higher than that of black African households \u2014 a gap that, in his view, underscores the continued need for aggressive policy intervention.<\/p>\n
\u201cWe need to challenge the notion that black economic empowerment is a cost to the economy. We need to demonstrate that it is an investment in the economy.<\/p>\n
\u201cNow is not the time to abandon the measures we have put in place to drive transformation.Now is the time to move forward with greater purpose and ambition.<\/p>\n
\u201cWe must use the lessons we have learned over the last 30 years to make our empowerment policies and programmes more meaningful and more impactful.<\/p>\n
\u201cThey must be ever more effective drivers of inclusive growth and employment,\u201d Ramaphosa said.<\/p>\n
kamogelo.moichela@iol.co.za<\/p>\n
Politics<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" President Cyril Ramaphosa delivered a forceful defence of Black Economic Empowerment (BEE) on Friday night, calling out its critics and questioning whether their opposition stems from fear or envy. Speaking at the Black Business Council\u2019s annual summit gala dinner at the Radisson Hotel and Convention Centre in Kempton Park, Ekurhuleni, Ramaphosa doubled down on the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[13275,311,16442,609,18608,426,3655],"class_list":{"0":"post-242678","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-politics","7":"tag-bee","8":"tag-defends","10":"tag-growth","11":"tag-nonnegotiable","12":"tag-ramaphosa","13":"tag-transformation"},"yoast_head":"\n