Businesses told to be proactive about radical economic transformation

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Iraj Abedian. (News24Live)
Iraj Abedian. (News24Live)

Cape Town – South African businesses need to start thinking proactively about radical economic transformation, said Standard Bank Group chief economist Iraj Abedian.

In a statement issued ahead of his engagements with business leaders in Port Elizabeth this week, Abedian said although radical economic transformation is thrown into the melting pot of the ANC succession planning, it has both opportunistic and substantive elements to it.

The opportunistic side, he said, injects "ill-defined and open-ended risks into the business milieu”, while the substantive element requires “systemic attention by the business sector insofar as business is the central player in any economic transformation”.

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