Former Minister of Finance Pravin Gordhan was firm in his stance that one of the best ways to challenge State Capture was to speak out about it. Picture: GCIS

Johannesburg - Former Minister of Finance Pravin Gordhan was firm in his stance that one of the best ways to challenge State Capture was to speak out on it and expose it. 

He said this at a lecture on State Capture, White Monopoly Capital and Radical Economic Transformation that took place at the University of Johannesburg in Auckland Park. 

Gordhan was joined by his former deputy Mcebisi Jonas. 

Both were axed by President Jacob Zuma during his controversial cabinet reshuffle earlier this year.

Speaking at the lecture, Gordhan outlined what State Capture referred to and how all South africans were impacted by it.

He said it affected all citizens across all occupations because everyone knew about it. 

"South Africans from all walks of life, from the humblest to the most sophisticated, know who is stealing, who is responsible for the thefts and how to stop this," he said. 

"This phenomenon also deprives young people of jobs and their ability to contribute to the economy and results in a decline in political morality."

Gordhan also tackled the economic impact of state capture, saying South Africa was faced with negative growth as a result. 

This meant less revenue generated and less money in the fiscus. 

Additionally, as a result of negative growth and state capture, there was a freezing of investment in the country. 

"This then means there's less money for education and the buidling of hospitals," he said. 

Gordhan said one of the best ways to tackle State capture was to expose it to the public in any way possible.

Gordhan's former right hand man, meanwhile used the lecture as a platform to tackle the issue of radical economic transformation. 

He said transformationcould not be reduced to a race issue as this did not address the issue of inequality.

"Transformation can not be reduced to increasing black ownership in large JSE-owned companies... this will not reduce inequality," he said.

Jonas said transformation was about the fundamental restructuring of the economy. 

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