Zuma: Factories must be owned by black people

By Drum Digital
25 March 2015

Manufacturing is the least transformed sector of the economy, President Jacob Zuma said on Wednesday.

"More factories must be owned by black people. It is not racism in reverse, it is eradicating racism," he told a black industrialists' conference in Midrand.

Political liberation was incomplete without economic liberation, he said.

Although black economic empowerment had shown some success, the participation of black people in critical aspects of the economy was low. He cited the JSE as one example.

He said a black industrialists' framework policy would provide opportunities for small to medium-sized enterprises.

Source : Sapa

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