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'Govt is unhappy with transformation in business'

Jeff Radebe says economic transformation is the key to addressing discrepancies.

FILE: Minister in the Presidency, Jeff Radebe. Picture: GCIS.

JOHANNESBURG - Minister in the Presidency Jeff Radebe says government is unsatisfied with the rate of transformation in the business sector with company ownership still reflective of the apartheid era.

Radebe says economic transformation is key to address discrepancies.

He was delivering the keynote address at a Black Management Forum event at Gallagher Estate in Midrand today.

The minister says a partnership between government and the private sector is vital to ensuring the success of black South African businesses in the country.

Radebe cited the Johannesburg Stock Exchange as a clear example of how slowly transformation is moving in the business sector.

But he also says while performance in some sectors is disappointing there is progress in others.

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