Since President Jacob Zuma announced that his government will pursue ‘radical economic transformation’, different versions of what this means have been brought forth.
For Mr. Zuma, the issue is clear and simple: South Africa needs to do something drastic in order to overhaul its current economic structure which does not support equitable distribution of opportunities across society.
With our unemployment rate sitting at 27%, indeed something drastic has to be done to address this. Finance Minister Pravin Gordhan cautioned that the idea of radical economic transformation should not be used to agitate the masses with an intention to drive the populist agenda by exploiting the plight of the people.