SA Economy: 97% Still Controlled By Small White Minority, UN Hears


South Africa’s Deputy Minister for Co-operative Governance and Traditional Affairs, Obed Bapela told United Nations (UN) that SA economy is still largely controlled by “small white minority”.

Obed Bapela made the assertion while he was speaking in New York at the General Assembly. The United Nations was marking the tenth anniversary of the Declaration of the Rights of Indigenous people.

Representing South Africa, Bapela wailed that it’s uncool for the minority to dominate SA economy. Thus, the Deputy Minister called for a conventions with legally-binding norms and standards that will ensure the utmost promotion, protection and actualization of the rights of indigenous people across the globe.

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Adding that SA Parliament is working towards an official acknowledgment of the Khoisan, Bapela said:

“The majority of our people, particularly the African indigenous communities face poverty and high levels of inequality confined to 13% of the land and only a mere 8% of the land re-situated since 1994.

The land therefore remains a priority for us to continuously settle all African communities including the Khoisan. Therefore the land remains a fundamental matter for the majority of the people and it’s firmly on the agenda of transformation.”

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The Deputy Minister also stressed the need for radical economic transformation, contending that the control of 97% of SA economy by small white minority, left the majority in poverty.

“Another matter,” Bapela said, “is the economic exclusion which has left many African indigenous majority in poverty, unemployment and inequality. In South Africa, the economy is still 97% in the control of the small white minority.”

That, according to Bapela, started the new struggle about transforming the economy under the programme of radical economic transformation.

President Zuma shared similar sentiment yesterday when he was launching the Maluti-a-Phofung Special Economic Zone.

The President remarked that the radical economic transformation programme requires increasing the participation of Black Industrialists and Entrepreneurs in key value chains and industrial sectors of SA economy.

“The majority cannot continue to rely on the skills and know-how of the minority, even though these are very important and needed in the economy,” said Zuma.