Sihle Zikalala, the MEC for Economic Development, Tourism and Environmental Affairs speaking at the Radical Economic Transformation Summit. Photo: Supplied
DURBAN  – Government policy makers and business formations gathered at the Durban's Olive Convention Centre for the Radical Economic Transformation Summit.

The summit is a timely intervention in the face of growing disillusionment with the pace of economic transformation from some sections of society. 

Sihle Zikalala, the MEC for Economic Development, Tourism and Environmental Affairs in KwaZulu-Natal forecasted that the summit will be characterised by robust and frank engagements.

“The provincial government has done extensive work in terms of preparing for the summit. We have engaged various stakeholders including business formations such as the Federation for Radical Economic Transformation and we are confident that the summit will not be a talk shop."

Zikalala added that while a lot has been achieved to extricate Black Africans, women and the youth in particular from the nervous conditions of economic seclusion and poverty, a lot more still needed to be done.

At the summit Zikalala said that they regard Radical Economic Transformation as an important strategic tool to deal with the triple challenges of poverty, unemployment and inequalities. 

Zikalala said, "We are elated to be part of the generation that is witnessing this change especially during a time where some have a serious doubt of the Government resolve on Radical Economic Transformation".

"We believe that it is important for different participants to accept that the discussion on Radical Economic Transformation must involve everybody including the private sector. We remain optimistic that we will soon witness greater co-operation from all in the implementation of economic transformation across the economic sectors," concluded the MEC.

BUSINESS REPORT ONLINE