Deputy President Cyril Ramaphosa says the time for radical economic transformation (RET) is now.
He addressed an Economic Recovery Engagement Dinner organised by the Black Business council in Sandton on Wednesday night.
Ramaphosa explained that his understanding of RET is the deracialisation of the economy.
Those dismissing RET should sit down. The economic transformation of our country is non-negotiable. It's a national imperative.— Deputy President Cyril Ramaphosa
There is nothing abstract about RET. It is fundamentally about inclusive and share growth.— Deputy President Cyril Ramaphosa
Political analyst Karima Brown says Ramaphosa's remarks are an attempt to reclaim the ANC's apparent stance of its discussion documents for its policy conference in June.
He's trying to reclaim the narrative around what he understands the ANC to be saying in its policy documents.— Karima Brown, Political Analyst and Talk At Nine Presenter
As you know the ANC is grappling with whether its economic policies that been implemented over the last 20 years.— Karima Brown, Political Analyst and Talk At Nine Presenter
The ANC is confronting its current economic policies and reflecting on whether or not they have helped alleviate inequality, unemployment and poverty, says Brown.
She says Ramaphosa's made a candid admission that the current economic policies are flawed using the highly contested phrase.
The deputy president also spoke about corruption and state capture, which Brown believes was a snub to President Jacob Zuma.
She looked at the subtext of his strong words in the context of contested ideas within the ruling party and the ANC's succession race.
Take a listen to extracts from Ramaphosa's speech and Karima Brown's analysis: