EFF leader Julius Malema. Picture: Thobile Mathonsi/African News Agency (ANA)
EFF leader Julius Malema. Picture: Thobile Mathonsi/African News Agency (ANA)

Malema tells black business community: Be radical about transforming the economy

By Siviwe Feketha Time of article published Mar 5, 2020

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Johannesburg - EFF leader Julius Malema has warned the black business community that it will remain on the margins of the mainstream economy of the country if it refuses to be confrontational and disruptive.

Malema was addressing the Black Business Council annual summit in Midrand, Johannesburg, where he and other political leaders were debating socio-economic transformation and inclusive growth.

Malema accused black business of being timid in confronting the predominantly white-owned economy and of being comfortable with being hired as mere "economy managers".

“You seem to be extremely comfortable to manage the economy of white people. Many of you do not engage critically against the status quo with the hope that you will be called upon to serve in a particular board or to chair a particular board. You want to be in the good books, at the same time you claim to be advocating for transformation in business. You will never transform it if you are going to sweet talk the status quo,” Malema said.

The BBC summit’s theme for the year is “The role of black business in industrialisation, localisation, beneficiation, radio-frequency spectrum, African Continental Free Trade Agreement (AfCFTA) and inclusive economic growth in order to create employment”.

Malema emphasised that black business had to take radical positions and stand firm if they wanted to change the ownership of the economy.

“You would rather die with your boots on. You cannot be these flexible people who are unprincipled, always seeking to be politically correct. Leaders who seek to be politically correct represent nothing. They are actually political amoebas,” he said.

He added the EFF’s theme for the year was “The year of action against the racist financial sector in SA”.

“It is racist. All of it because we are all profiled. Even Patrice Motsepe is profiled by virtue of being a black African. We are treated like we are criminals,” he said.

Political Bureau

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