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Taking charge of the economy needs to be an obsession

───   MOEKETSI MOGOTSI 10:43 Thu, 20 Jul 2017

Taking charge of the economy needs to be an obsession | News Article
OFM News/Stock image: pintrest.com

Bloemfontein - Taking charge of the economy needs to be an obsession. According to Deputy Secretary-General of the African National Congress, Jessie Duarte, this is one of the resolutions that came out of the recent national policy conference.


She was addressing members at a regional post policy conference briefing in Bloemfontein on Wednesday. She highlighted that the debate that overshadowed any debate was the state of the economy.

Duarte tip toed around mentioning the term ‘white monopoly capital’ throughout her address and said debates around what the terms should be called should be avoided and the focus should be the fact that there is still structural differences in the economy.

“Our economy is a highly concentrated economy. The economy in the main, the previous year's people used to talk about it as having two economies. That’s how they analysed it. A white economy and a black economy which was much less resourced and capable of actually trading properly. We’re quite clear that our economy has a structural problem. 

"South Africa’s economy is in the main dominated by white South Africans and the ANC’s policy position is saying that part of radically transforming our country requires us to transform the structure of the economy which is concentrated in the hands of a few, predominantly white South Africans but also monopolies which come from other countries,” she said.

She added the question of the transformation of economic ownership was avoided during the regime change in 1994.

“For 20 years we’ve set up the democratic structures in this country at every level. We can vote. We can participate in legislatures and parliament and so on but we don’t own the fundamental thing that will take our country forward, which is the economy,” she explained.

- OFM News

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