While speaking at the 11th annual Competition, Law, Economics andPolicy Conference, Deputy President Cyril Ramaphosa has expressed that South Africa has “inherited a racially skewed economy” that needs to be corrected.
The conference, hosted by the Competition Commission, at the Gibs Business School in Illovo, offered the Deputy President an opportunity to address the young and up-and-comers of economics and politics, alongside some experienced veterans of both fields.
Ramaphosa says the way the economy was structured in the past is a problem, which must be rectified through policy.
“Twenty-three years after our democracy, the moment has arrived for us to introspectively look at transforming this and we do this by looking at what’s happening in the world. The world is now calling for inclusivity and effort.”
Last month, the deputy president called for policy development, saying most of the economy is controlled by private companies and certain individuals.
He also assured women that the ANC is seeking ways to emancipate them in order to participate in the economy.