A global human society, characterised by islands of wealth, surrounded by a sea of poverty, is unsustainable
We can't treat the matter of black economic empowerment as just the redistribution of existing wealth. It really has to focus on new investment, on growth, on development of employment and so on and so on.
I think the critical point, really, is that we need to focus black economic empowerment more on the creation of new wealth rather than on these big deals that have been characteristic of this process in the past, of people going to banks, borrowing a lot of money, buying this and when the shares don't perform very well, the shares go back to the banks, because there's other people who own this anyway. I think we need to re-focus it so that it really does impact on growth, new investment, new employment and a general, better spread of wealth in South Africa.
If we don't move forward with regard to creating a non-racial society in South Africa and we allow this legacy of apartheid to persist, these divisions between black and white in wealth and income and so on, in the future you would indeed have an ugly upheaval.
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