Busa vows to accelerate inclusive economic transformation

Business Unity South Africa (Busa) has oft been criticised by the ANC and alliance partners for not speeding up the process of transformation in the economy.

Now the organsation has released a paper outlining a proposed plan.

Busa vice president Martin Kingston explains to Stephen Grootes on The Midday Report that the purpose of the paper is to set out a dialogue with all of its social partners - government, labour, and the community at large.

The aim?

How to take stock of the progress made, where we have made errors, and how we can accelerate that process of deracialisation to ensure we really do have a truly inclusive economy that incorporates the vast majority of the people of this country.

Martin Kingston, Busa vice president

The first point he says is to take stock.

There is no credible, independent, comprehensive assessment of the amount of progress we've made with respect to transformation.

Martin Kingston, Busa vice president

A realistic objective?

To accelerate the deracialisation of the economy as quickly, as viably as possible on a sustainable basis.

Martin Kingston, Busa vice president

A route needs to be mapped out.

In the past business has been "responsive and reactive, rather than proactive", he says.

He acknowledges that business should have taken this bull by the horns a long time ago but says now they need to step up and be counted and do better.

It is now an absolute priority, he adds.

Busa has identified two focuses:

  1. Education and schools development.

  2. Ensuring Busa can capacitate, support and assist black entrepreneurs in building their own businesses rather than only taking a small stake in existing ones.

Not that we are opposed to the later, but it is not going to achieve the objectives we have identified.

Martin Kingston, Busa vice president

Take a listen:


This article first appeared on 702 : Busa vows to accelerate inclusive economic transformation


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

‘Documents show that the fee contract was entered into by Anoj Singh & signed off by the acting CEO Sean Maritz' - Chris Yelland

‘Qedani Mahlangu helped people die then she ran away’ – Stephen Grootes

‘Qedani Mahlangu helped people die then she ran away’ – Stephen Grootes

Stephan Grootes shares his views on the events that unfolded at Life Esidimini and comments on Qedani Mahlangu’s apology.

Metrorail train derails due to vandalism on the central line

Metrorail train derails due to vandalism on the central line

The Central line was set to resume services on Thursday but has been postponed due to vandalism at Heideveld and Netreg stations.

Hawks Mulaudzi neither confirms or denies reports about possible Guptas arrests

Hawks Mulaudzi neither confirms or denies reports about possible Guptas arrests

Hawks spokesperson confirmed working closely with the NPA but cannot disclose cases it is working on until people are charged.

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

Popular articles
Competition Commission denies allegations of corruption

Competition Commission denies allegations of corruption

Commissioner at Competition Commission, Tembinkosi Bonakele says the allegations leveled against them are utter rubbish.

Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The Money Show’s Bruce Whitfield interviews amaBhungane Centre for Investigative Journalism Investigative Journalist Craig McKune.

Meet Elmar Conradie, CEO of low-cost FlySafair (world’s most on-time airline)

Meet Elmar Conradie, CEO of low-cost FlySafair (world’s most on-time airline)

The Money Show’s Bruce Whitfield interviews Conradie for his “ShapeShifter” feature.