Phosa: Economic Equality Essential For SA Economic Transformation


As the nation’s economic status continues to be of major concern to the government, SA’s former national treasurer Mathews Phosa said the country should work hard towards restoring faith and economic equality to foster great Economic transformation.

The African National Congress (ANC) veteran who was a guest speaker on day two of the Vison 2030 Summit at Emperors Palace in Kempton Park on Thursday, said the nation need to be reawakened to work on building a culture of economic non racialism as it is the most significant transformation issue the country is facing at the time. 

“South Africa is a hugely unequal society when it comes to economic prosperity. It remains the most significant outstanding issue on our agenda of liberation and political and economic transformation.

It is‚ however‚ something that we must change as a nation‚ across all political‚ racial and economic divides‚” he said,

“Therefore all of us… in the spirit of the Constitution should‚ we can and must make it work.

“However‚ for economic transformation to take hold in South Africa‚ we must most importantly change our focus into teaching each other with dignity and concentrate in furthering the process of achieving economic equality‚” Phosa added.

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The ex-minister expressed grief at the increased racial stereotypes  that have remained persistent in the country’s system which he said was perpetuated by a lack of mutual respect in general.

The ANC veteran Phosa who has been at the Vison 2030 Summit since its resumption, has utilized the almost rare opportunity to express his perception over the current political and economic mishaps in the country.

The outspoken politician who played an important role in the struggle against apartheid said earlier this week, that Nkandla is a product of “a culture of immunity and impunity” that has taken hold of South Africa.

He said there is a lot of corruption in the country and that it has become a norm in municipal government‚ provincial government and national government.

“And what do we do? Instead of hitting the corruption at the heart‚ we protect one another. We introduce a culture of immunity and impunity. And it’s wrong for the ANC to do that‚” he said.

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The ex-minister also made mention of President Zuma’s political errors and maintained that the party ought not to defend him.

He believes that Zuma has disqualified himself as the president of the country following the numerous allegations levied on him.

Phosa said Zuma must go and no amount of apologies is fit to keep Zuma on seat. He said so believing that a larger crowed of South Africans are in support of this.

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