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'First step toward transformation is fighting rot in govt, private sector'

Former Finance Minister Pravin Gordhan was speaking about transformation at the annual Flagship Thought Laboratory in Alexandra.

Former Finance Minister Pravin Gordhan at the annual Flagship Thought Laboratory in Alexandra on 12 October 2017. Picture: Clement Manyathela/EWN

JOHANNESBURG - Former Finance Minister Pravin Gordhan says the country will only attain true transformation once the rot in Government and the private sector is dealt with.

Gordhan was speaking about transformation at the annual Flagship Thought Laboratory in Alexandra.

The phrase “radical economic transformation” has gained popularity in recent times, especially among politicians campaigning for leadership positions ahead of the African National Congress' elective conference in December.

Gordhan believes this kind of transformation will be difficult if the status quo remains.

“Otherwise you get no transformation, we’re only fighting for spoils of what is being left. So, stage one of transformation starting today is how do we fight the rot. Whether its corruption, the bad practices in the public sector, in the private sector.”

He says South Africans must ask themselves who stands to benefit when this transformation occurs.

Gordhan says if policy continues to shift around like it is in departments such as Mineral Resources, increased investment in the country will remain a dream.

He made a veiled reference to Mining Minister Mosebenzi Zwane's new Mining Charter, which the Chamber of Mines has taken to court to block it from implementation.

The industry body claims the charter, which gives resources forums 12 months to meet a 30% black ownership requirement, was decided on without consultation.

Gordhan says there must be certainty when it comes to policy.

“So part of our collective job is to create the right level of confidence, change the sentiment and we will get investments happening. And that will be the beginnings of a virtuous cycle that everybody can actually benefit from.”

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