‘Black CEOs are being used as political favours’
Minister Jeff Radebe says government is not happy with the rate of transformation in the business sector.
JOHANNESBURG - Minister in the Presidency Jeff Radebe says government is aware that black CEOs are left out of real business dealings because companies use them for political favours.
Radebe says a partnership between government and the private sector is vital to ensure the success of black South African businesses in the country.
He was delivering the keynote address at a Black Management Forum event at Gallagher Estate in Midrand on Tuesday.
Radebe says government is not happy with the rate of transformation in the business sector and company ownership still reflects the apartheid era.
"Ownership patterns don't reflect our demographic of our new South African rainbow nation."
The minister said government will tackle this problem, but said the role of the private sector is imperative.
"If we talk about courageous leadership, that leadership must not only come from government."
Radebe also said economic transformation is key to address the discrepancies from the past.