Cape Town - Inequality and economic exclusion is the biggest driver of political risk both globally and in South Africa, according to journalist and political analyst Karema Brown.
"If we have to compare ourselves to Russia in order to feel better about the country, we are in bigger trouble than we think," she cautioned at the convention and expo of the SA Property Owners Association (SAPOA) taking place in Cape Town.
"(If we presume) that if President Jacob Zuma is removed tomorrow it will address all the things that ail our political system, we are sadly mistaken. There are some fundamental wrongs in our society which have little to do with Zuma’s presidency."
In her view, what the Economic Freedom Fighters stands for is a recognition that SA remains a very unequal society in which existing privilege has largely been accommodated.
"If sustainability is the intention of property owners, then we have to dig a bit deeper than just Zuma's failures. We have to look at what in our society allowed a corrupt elite to grow at the speed it did.
"Corruption did not start in 1994. The apartheid regime propped itself up through a network, including banks, until it became almost bankrupt. This provided a soft landing for the corruption network of today."
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The role of business
She said state capture is obvious, but business must look at the extent to which it is complicit in SA's stagnant growth, including in the salaries paid to workers.
"Speaking of transformation cannot just be about ticking the box for the number of blacks and women. It must be reflected in business practices. I think the speed at which the black middle class tried to imitate its white counterpart is a root problem," said Brown.
"Because of apartheid and structural racism, the middle class in SA has an almost feudal relationship with other social classes. In the UK, for instance, the middle class take public transport, cannot afford domestic workers or to buy a house."
In her view, it would be hard for business in South Africa to understand what it would take to be sustainable for the company, the workers and "ordinary folk".
"It must go beyond just putting black people on your board. Change must come in your business practices," she said. An example of what needs to change is reflected in the lack of trust between people having to negotiate on labour issues.
"For me the key issue around political stability in SA and the reason why the ANC has been able to be capture the state to the extent it has been, has been the failure of the social compact to deal with the real issues on the table. It is only once implementation begins that we see that we do not agree with anything at all," said Brown.
"We must not outsource our responsibility. We need to begin to understand that leadership begins with us. Fashion a different understanding of business practices. If rands and cents were the only yardstick, then it will be difficult to bring people together.
"If you want to grow your assets in SA, you need to roll up your sleeves and acknowledge that you are part of the inequality matrix that remains intact in the country."
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