Mantashe: Private sector must deal with past | Fin24
  • Trump and Tariffs

    Face-to-face trade meetings with China on the horizon.

  • Peter Moyo

    What is next for Old Mutual and its on-and off-again CEO Peter Moyo as legal manoeuverings continue?

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


Mantashe: Private sector must deal with past

Aug 22 2014 08:25

Johannesburg - The private sector is too slow to transform, African National Congress secretary general Gwede Mantashe said on Thursday.

"Where the state is in charge, there is progress, [however] where the private sector is concerned, transformation is too slow," Mantashe said at a SA Chamber of Commerce and Industry dinner on the protection of property rights.

He said transformation included dealing with the past.

"We are dealing with a past we are all afraid of talking about. We agree that we cannot continue to blame apartheid for our problems, but we must be able to deal with apartheid moving forward."

He said black people were denied rights to participate in the economy.

"The transformation should open opportunities for black South Africans to participate, or else there will be despair in the black community."

Those with access to wealth should ensure that it transformed into common prosperity that would be enjoyed by all in the country, he said.

Mantashe said the constitution gave effect to land reform so that everyone could have access to land.

"The debate about property rights must include debate about qualification [of ownership]," he said.

"The protection is qualified as it is for property rights. But the constitution says there may be a need to expropriate land for public purpose."

He said the country cannot have 35% of commercial farmers owning 82 million of hectares of land.

"We can't have a situation like that while the rest of us are left with 8% of the [available] land."

gwede mantashe  |  sa economy


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote