CAPE TOWN, February 9 (ANA) – President Jacob Zuma on Thursday expressed unhappiness at the pace of transformation in the workplace, saying that government wanted to open up the economy to new players.
During the State of the Nation Address, Zuma said it was now time for black people to begin owning and playing a meaningful role in the country’s big industries instead of benefiting from empowerment schemes.
“Radical economic transformation should move beyond share economic schemes only. We would like to see black people involved directly in business, owning factories. The development of the Black Industrialists programme is thus critical,” Zuma said.
“Only 10 percent of Top 100 companies on the JSE are black-owned. The pace of transformation in the workplace remains slow.”
Zuma said government was trying to quicken the pace of transformation in the economy through various programmes aimed at benefiting small, micro, and medium enterprises (SMMEs), especially black-owned and female-owned enterprises.
He said government was actively involved in the R7 trillion property sector, adding that this year government would address increasing delays and backlogs in issuing of title deeds.
Zuma also said this year, the Department of Public Works would invest R100m on critical programmes to modernise harbours and continue generating revenue from letting state-owned harbours and coastlines properties, which would benefit black owned SMMEs.
Zuma said government would also continue to pursue policies that seek to broaden the participation of black people and SMMEs, including those owned by women and the youth, in the Information and Communication Technologies (ICT) sector.
– African News Agency (ANA)