Johannesburg - There have been social advances since 1994 but not economically, Congress of SA Trade Unions general secretary Zwelinzima Vavi said on Thursday.

“Our intention to make the second decade of democracy the decade of the poor and marginalised has failed,” he told the Daily Maverick Gathering Conference at Gold Reef City in Johannesburg.

“Just like the first decade has disproportionally benefited white monopoly capital.”

Vavi said colonialism had stolen from the country's wealth and exploited people.

However, many advances had been made since then.

He listed positive changes in South Africa since 1994.

“These advances explain why Cosatu remains firmly in support of the ANC.”

Vavi agreed that the African National Congress government had a good story to tell when it came to social transformation.

“[However] on hard-core economic transformation, it is not a good story,” he said.

A number of political leaders attended the gathering, which was the election edition.

Those present included Democratic Alliance leader Helen Zille, Public Enterprises Minister Malusi Gigaba, and Agang SA leader Mamphela Ramphele. - Sapa