Ramaphosa vows to end white ‘control’ of business

Deputy President Cyril Ramaphosa has promised black business that government will spend billions on broad-based black economic empowerment in the coming years. By Lizeka Tandwa.

Cyril Ramaphosa

Cyril Ramaphosa

Deputy President Cyril Ramaphosa has promised black business that government will spend billions on broad-based black economic empowerment (BBBEE) in the coming years.

“We are going to intensify BBBEE. We are going to sharpen our teeth and determination when it comes to unemployment. We expect that our black industrialists will have up to R24bn made available to them to redefine the way business is done in our country,” he said at an ANC summit for academics and professionals in Johannesburg on Wednesday night.

Ramaphosa encouraged black business to bring their ideas to the ANC. He then asked them to open their wallets to support the party’s local government elections campaign.

Ramaphosa said the time of white business monopolies was over. Government was hell-bent on making sure blacks owned and managed the economy.

“For far too long, this economy has been owned and controlled by white people. That must come to end. Those who don’t like this idea — tough for you. That is how we are proceeding,” he said.

Ramaphosa said government was obsessed with empowering black South Africans.

“In some cases, we have become fanatical about it. It is in this area that we know we will be able to plant seeds of further economic growth in our country,” Ramaphosa said.

The ANC’s relations with business and academics were essential to speeding up the party’s efforts to change the country. Academics and professionals had started the ANC and had been agents of change during the country’s history, he said.

News24

Share this article

  • CharlieTango

    “Ramaphosa encouraged black business to bring their ideas to the ANC. He then asked them to open their wallets to support the party’s local government elections campaign.” – As the ANC is the ruling party, a call like this to the private sector doesn’t help the perception that contracts are awarded in return for monetary support.

  • Do the right thing

    Come on using BBBEE to push support for a party in decline , this country is made up of various groups its time you guys free the country from this ideology ,even if the companies are owned by blacks , the shareholders or should I say funders are still made up of various segments of the spectrum , so good luck with this racist approach ,by the way what where you guys doing for 20 years , by now BEE should have been in the phasing out stages….. interesting and now you want re – introduce the ANC version of apartheid.

  • Mike Watkins

    Aah!What a pity, that he’s so unconcerned by the obscene corruption and blatant interferences of his pals, the Guptas?
    Comrade Ramaphosa if your regime had devoted more effort to educating the previously disadvantaged 22 years from what was once the New South Africa; And kept; Tthat red-turkey, Comrade Blade Nzimande, of the SACP out of that overpaid Ministry of tertiary education; That is so beyond his gross inabilities, that it is an insult to the youth of South Africa, even the brain-washed members of the SACPYL, the ANCYL and that YCL;
    And devoted less time to your scams and self-enrichments, by now SA; Would have had an equal society; Where just because you were bred from the president and could put up with the stench of corruption, they were allowed to “play at”,being important Capitalists. SA would be a far more positive place for all of its competent citizens.

  • John Dove

    You see ? It’s not about the Guptas at all.

    All he’s attempting to do is take the spotlight off the Gupta issue. He thinks this speech might buy some time.

    The cANCer is desperate. You can smell the fear.

  • Mike Watkins

    Comrade Ramaphosa is really resurrecting that racist Tokoloshe of apartheid; I didn’t read citizen in the article; Just point-scoring “Blacks and”Whites”; Now, if that isn’t divisive and contrary to SA’s constitution?
    No wonder the regime is so hopeless; It has let that ghost of apartheid become part of its great failure “tripartheid”;
    And if this “Whiteman thing is so iniquitous why has the regime persisted, with; That “Whiteman, Jeremy Cronin’s “wetdream” of E-Tolls? I can only presume that back-pocket money for “junkfood” has to be sourced from somewhere?

  • Mike Watkins

    when gormless and devoid of any vision; That old scapegoat “apartheid will get the Commies and pseudo-liberal academics, all fired up; And the regime can avoid acknowledging its own culpability, for the collapse of SA’s economy and destruction of its future, for all South Africans

  • Mike Watkins

    “Government was hell-bent” That’s right down the same toilet as North Korea,Zimbabwe, Vietnam, and Russia.
    Next thing the regime will re-institute conscription; And all the causeless youth will soon be goose-stepping, in “Ra-ra!”displays, on Worker’s day? At the least it will get rid of the patjhetic youthprotesters in the SACPYL,ANCYL and EFF

  • Fred

    no amount of screeching on about white monopoly and racism from the Marikana mass murderer and his other chums will drown out their wrecking of this country’s future and its children’s future through disproved senseless commie policies and outright plundering of the public purse to enrich a few elite, buffalo-bill being on of the main culprits.A multi millionaire and never lifted a finger for it. Disgusting.

    Another panic-motivated election speech from the man who bid R19 million for a cow whilst 8 million of his people have no work!!

  • HairyBear

    Oh, I do hope this racial speech is widely reported overseas. “For far too long, this economy has been owned and controlled by white people. That must come to end. Those who don’t like this idea — tough for you. That is how we are proceeding,” Yes, it should do wonders for foreign investment in South Africa.

  • baasted_123

    How much did you pay for that buffalo again???

    How about fixing your own money sucking, thieving, dysfunctional political failure of an organisation before you attack the tax paying population of this country,

    Foolish statement from a foolish “leader”.
    If you were a leader you would speak up about all the wrongdoings in the ANC.
    If this is not a racist statement, I do not know what is.

  • yodaho

    Here we go again. No wonder there is such a fuss about race in this country with first Zuma and now his sidekick gunning for the whites and blaming them for all the shortcomings in the ANC governance. No wonder whites cannot do or say anything and it decried as racist!!! This is obviously an election tactic which is going to blow up in their faces..

  • Davebee

    ‘Tough for you’..Really Cyril? I find it damned tough for me personally to know that my personal taxes are helping you enjoy a very comfy life style and also you are now going to use MY PERSONAL TAXES to put my fellow white South Africans out of business so that YOU and your ANC supporters can continue to pursue an exclusive, self confessed, RACIST policy of outright economic genocide!
    I think it’s time Cyril’s comments were aired at the WTO and the UN.
    I will be calling on the DA to take this matter further in parliament on Tuesday 29-3-2016.
    I believe Mike Waters is still the DA’s spokesman on trade and industry.
    I urge fellow Techcentral readers to follow suit.
    Thanks.

  • Davebee

    Here’s something to chew on over Easter: If these racist utterances are what the DEPUTY PRESIDENT of South Africa brazenly states at a PUBLIC MEETING then I truly shudder to imagine just what is being said along the lines of ethnic cleansing behind closed doors both at Luthuli House and at Zuma’s cabinet discussions!

  • V.O.I.C.E

    Agree Davebee, perhaps it can even be seen as hate speech & separatizm.

  • Davebee

    I’m deeply concerned at this speech by Ramaphosa, I really am.
    I view this person’s speech as racist, threatening and bullying.
    Coming from a top so-called leader he should know better.
    Isn’t this the man who is constantly reminding us lesser tribes about nation building?
    Does he think it acceptable to allow the ethnic minorities tax Rand’s to be used to yet further push those minorities out of the main stream economy of this country? This is a disgraceful statement by a senior politician.
    Is Rhamaphosa hinting at a more sinister future agenda awaiting us in the minority groupings of South Africa?
    Is there a Southern African Rwanda to be our ultimate fate?
    Rhamaposa should be made to officially clarify this racist speech and its ‘message’ before the end of April, that’s for sure.

  • Dravidian

    Trying to fool people, his close advisers are whites, it’s whites who made him rich, so is his legal team, all white. I guess he is trying so hard to be politically correct.

    Those who believe him are stupid.

  • observer111

    Unlike the majority of posters on this board, I actually see some hope in Ramaphosa’s message. If I understood it correctly, he wants to spend billions in developing black businesses, correct? In setting up and fostering new companies?

    Frankly that is fantastic news!

    South Africa needs exactly that: successful black businesses showing that you can succeed without having to be corrupt or a criminal. We desperately need to enlarge the tax base – isn’t it a favourite complaint that the whites pay for subsidising the black townships? Well, I want to see our black counterparts thriving and also contributing to the fiscus – what better way than to do this than via manufacturing, exporting, producing, farming?

    On the other hand, if I misunderstood Cyril’s words, and what’s in the pipeline is merely more of the same old “take a white business over” plan as before, then I’m disappointed and hope that he wakes up.

  • Ferdi

    You can not develop policies based on race, thereby “excluding” a big part of our relatively small pool of capable educated people who can contribute to business development. We need “every” resource available in order to stay competitive in a very competitive world economy, so in my book no good news no matter how you intemperate it!!

  • Ferdi

    We desperately need more B’s and E’s

    BE sensible,

    BE accountable
    BE honest
    BE consistent

    Be serious about the future of this country and ALL of it’s citizens!

  • William Stucke

    Oh, why not? You do know, don’t you, that RSA’s BEE policies are based on Malaysia’s “bumiputra” legislation?
    Yes, that’s right. RSA’s ‘post apartheid’ government bases its affirmative action policies on one of the three remaining countries in the world that still implements Apartheid as a model …

  • William Stucke

    Exercise for the student: Which are the other two countries in this world that still have Statutory Apartheid as part of their legislation?

  • Ferdi

    😉

  • Ferdi

    Let me guess, is Saudi Arabia(Zuma’s latest “hunting ground”) one of them?

  • Green advocator

    “Ramaphosa encouraged black business to bring their ideas to the ANC. He then asked them to open their wallets to support the party’s local government elections campaign.” And they always deny that they buy their votes. If its not groceries its a share of the R24bn that they have made available. Question is Mr Ramaphosa – are there competent and responsible black business men out there who can run large corporations? If there are, and I could be wrong, they are very few and far between and usually the lackies of people like yourself who without their help in the background would stand a great chance of failing this country like out president has.

  • William Stucke

    Good question, Ferdi. They weren’t on my list, but perhaps they should be. I’ll do some research, but gut feel says that you might be right.

  • Harry Ramsunkar

    In a recent radio call to suggest who should ‘take over’ from Zuma when he ‘goes’, not a single person suggested Ramaphosa… Makes you think, does it not?

  • TheZenOfZen

    “We are still a divided country and we should be concerned by recent reports of the level of trust between blacks and whites is deteriorating.” Ramaphosa.

    And yet here you are perpetuating this division by your own words. Such a hypocrite does not belong in this country.

Why TechCentral?

We know that as a prospective advertiser, you are spoilt for choice. Our job is to demonstrate why TechCentral delivers the best return for your advertising spend.

TechCentral is South Africa’s online technology news leader. We don’t say that lightly. We believe we produce the country’s best and most insightful online tech news aimed at industry professionals and those interested in the fast-changing world of technology.

We provide news, reviews and comment, without fear or favour, that is of direct relevance to our fast-expanding audience. Proportionately, we provide the largest local audience of all technology-focused online publishers.

We do not constantly regurgitate press releases to draw in search engine traffic — we believe websites that do so are doing their readers and advertisers a disservice. Nor do we sell “editorial features”, offer advertising “press offices” or rely on online bulletin-board forums of questionable value to advertisers to bolster our traffic.

TechCentral, which is edited and written by award-winning South African journalists, cares about delivering top-quality content to draw in the business and consumer readers that are of most interest to technology advertisers.

We’d like the opportunity to demonstrate the value of directing a portion of your advertising budget to TechCentral, whether your company is in the technology field or not. Numerous opportunities exist for companies interested in reaching our audience of key decision-makers in South Africa’s dynamic information and communications technology sector. We offer packages that will deliver among the best returns on investment available in the online technology news space.

For more information about advertising opportunities, and how your organisation can benefit by publicising itself on TechCentral, please call us on 011-792-0449 during office hours. Or send us an e-mail and ask for our latest rate card and brochure.