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It cannot be business-as-usual and expect radical economic transformation: Danisa Baloyi

Speaking at the ANC’s Ekurhuleni region this past Saturday, President of Black Business Council, Danisa Baloyi, presented this speech on radical economic transformation 

 

  1. Radical Economic Transformation, means exactly that, a move from the perceived norm, the acceptable, to the uncomfortable, decisive change in the way we do things, and the will to change what we know has not worked largely for our people to policies that are implemented to ensure that our people get to the centre of our economy. We know that the private sector has largely been reluctant to move in this direction, we therefore remain with one
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One Comment

  1. the challenge is that we continue to use the white institutions as if they are the only form of doing business; case in point, when applying for funding from public institutions, they demand a formal off-take from the big institutions and not from existing black businesses no matter how credible.

    the same DFIs will hold demand guarantees and audited financial statements and eventually only white institutions benefit from all the grant moneys (DTI, Jobs Fund, etc.) that are intended for black businesses.

    the truth be told; our government has not committed itself to effective transformation except to appease

    The NAFCOC which should have transformed business is clouded with power struggles because eventually people elected in these positions are not business owners but job seekers. Currently the NAFCOC offices have been closed for over a month because they cant even pay their utilities

    Why have the NAFCOC failed to grow the UNIBABK into a fully fledged bank and we continue crying foul when our own leaders are cronies. Until we are incharge of our economy and infiltrate townships with our own brands and products through network distribution to circumvent the growing number of formal retailers in our areas

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