SA’s current economic, political challenges not unique - Gigaba

Malusi Gigaba says the colonial ruling classes may be prepared to give up political power but will never give up economic dominance.

FILE: Finance Minister Malusi Gigaba. Picture: Kgothatso Mogale/EWN.

JOHANNESBURG - Finance Minister Malusi Gigaba says the current economic and political challenges facing South Africa are not unique.

The minister was speaking at the Black Management Forum gala dinner at the Sandton Convention Centre on Friday evening.

Gigaba says the colonial ruling classes may be prepared to give up political power but will never give up economic dominance.

During his speech, Gigaba made reference to the writings of revolutionary and author Frantz Fanon.

“Frantz Fanon says of the national middle class which takes over power and the colonial regime, that it is underdeveloped and has practically no economic power and in any case, it is not consummate with the bourgeoisie of the mother country of which it hopes to replace.”