Economic transformation favours the few – Motlanthe

2010-02-04 11:42

Economic transformation “has been frustratingly slow” and has

favoured the few, Deputy President Kgalema Motlanthe said in Pretoria

today.

“We have to admit the speed of economic transformation has been

frustratingly slow at times,” Motlanthe told the inaugural meeting of the

president’s Broad-Based Black Economic Empowerment (BEE) Council.

“We have to admit that the broad-based part of BEE has seemed

elusive. The story of black economic empowerment in the last 25 years has been a

story dominated by a few individuals benefiting again and again.”

Motlanthe asked the council to consider that most marginalised

South Africa’s were being sidelined.

He was delivering the speech on behalf of President Jacob Zuma, who

had cancelled his public engagements for two days to rest following a “hectic”

schedule, his office said today.


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