Radical economic plans – Gigaba

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The new government planned to promote “radical economic transformation” to forge a class of black industrialists, Minister of Public Enterprises Malusi Gigaba said yesterday, as the governing ANC appeared well on track to extend its 20-year rule.

Over the next two decades the government would use its programmes to build infrastructure, develop industry, and buy more goods and services locally to help black entrepreneurs expand their businesses, Gigaba said in an interview. “Over the next 20 years we are going to pursue more radical economic programmes so that we can change the ownership patterns of the economy.”

President Jacob Zuma said in a March 6 interview that black ownership in Africa’s second-biggest economy needed to be increased. – Bloomberg

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