So what exactly is radical economic transformation?

Wits University associate professor of economics Christopher Malikane explains radical economic transformation and how it is geared toward fundamentally changing current structures within the economy.

He elaborates on some of the issues captured in the thinking around the term.

Meaning, changing the composition of output that the economy is producing and ownership and control patterns – who owns the entities that are making most of the production in the economy, and who manages, who makes decisions about investment patterns, employment patterns, pay in the labor market.

Christopher Malikane, Wits University associate professor of economics

In an interview with Stephen Grootes on Monday, Chairperson of the African National Congress's (ANC) subcommittee on economic transformation, Enoch Godongwana said there is still no clarity around the phrase, but he is confident that once it is properly defined, people will rally behind it.

Listen: ANC economic transformation commission on downgrade to Junk status.

Highlighting existing barriers for black business, Malikane shares some of what needs to happen to address issues of ownership and ensure all South Africans benefit from local procurement.

Part of the policies that need to be instituted....for example access to credit, people have been consistently arguing that there needs to be a state bank that is going to provide credit in a manner that is affordable to small and medium enterprises and established big businesses.

Christopher Malikane, Wits University associate professor of economics

Click below to listen to the full audio.....


Recommended

by NEWSROOM AI
Read More
Grief has taught me so much about myself - Letshego Zulu

Grief has taught me so much about myself - Letshego Zulu

The widow of race driver Gugu Zulu chats to Azania Mosaka about her book 'I Choose to Live: Life after Losing Gugu'

[LISTEN] The effects of normalised crime on children

[LISTEN] The effects of normalised crime on children

Boys & Girls Town CEO Lee Loynes says children who experience violence have fewer neuro-connections in their brains.

ANC's subcommittee on economic transformation won’t rule out  a recession

ANC's subcommittee on economic transformation won’t rule out a recession

On Sunday, the committee held a briefing on the party’s economic transformation discussion document.

Here’s what it’ll take for South Africa to rise from junk status…

Here’s what it’ll take for South Africa to rise from junk status…

It’s hard, but not impossible. Arabile Gumede interviews Argon Asset Management Economic Strategist Dr Thabi Leoka.

Zuma promises radical economic transformation at local government summit

Zuma promises radical economic transformation at local government summit

President Zuma addressed the summit saying patterns of economic ownership and control must shift in favour of the poor.

Zuma's 'radical' land reform is opportunistic - political analyst

Zuma's 'radical' land reform is opportunistic - political analyst

President Jacob Zuma has said the Constitution should be amended to allow land expropriation without compensation.

Popular articles
You made a huge mistake downloading FaceApp if your privacy is important to you

You made a huge mistake downloading FaceApp if your privacy is important to you

Washington Post technology columnist Geoffrey A. Fowler did a forensic analysis of the Russia-based app. Check it out.

'Busisiwe Mkhwebane has nothing against the president'

'Busisiwe Mkhwebane has nothing against the president'

Public protector spokesperson Oupa Sekgalwe says there is a misunderstanding of the law by those advising Cyril Ramaphosa.

[WATCH] Woman stealing back her stolen car has social media talking

[WATCH] Woman stealing back her stolen car has social media talking

Khabazela shares tweets and Facebook posts that have gone viral.

FaceApp challenge has peeps showing what they'll look like when they're 80

FaceApp challenge has peeps showing what they'll look like when they're 80

Khabazela shares tweets and Facebook posts that have gone viral.

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

Need a loan to grow your small business? There’s a pot of money waiting

Need a loan to grow your small business? There’s a pot of money waiting

Spartan SME Finance provides finance for small businesses. Bruce Whitfield interviews its CEO, Kumaran Padayachee.

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand is trading at fair value. It’s the US dollar that's overvalued. Bruce Whitfield interviews George Glynos (ETM Analytics).

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).