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South African companies say economic growth will reduce racial inequality

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The country’s biggest companies believe they have the solution to the racial inequality that has riven the country since the end of apartheid a quarter-century ago: Grow the economy.

The debate about integrating more black South Africans into one of the world’s most-unequal societies is being thrust into the open amid anti-racism protests sparked by the Black Lives Matter movement.

It also comes as the Covid-19 coronavirus pandemic exposes the divide between rich and poor in a country where white households earn five times more than their black counterparts, government data shows.

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President Cyril Ramaphosa says government has set the target of ensuring that at least 40% of goods and services procured by public entities are sourced from women-owned businesses.
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