'Radical transformation used to justify acts best described as state capture'

Cyril Ramaphosa says radical economic transformation when properly implemented could help grow the economy.

FILE: Deputy President Cyril Ramaphosa. Picture: GCIS.

JOHANNESBURG - Deputy President Cyril Ramaphosa says the term radical economic transformation has been misunderstood and is often misused

However, he says in its correct context, radical economic transformation is necessary for the country’s growth.

The deputy president took a swipe at those who he says claim radical economic transformation.

“The term radical economic transformation is often deployed to either mask or justify activities that would be best described as state capture.”

He says the term is rooted in the Freedom Charter and when properly implemented could help grow the economy.

Ramaphosa says apartheid left black people dispossessed and radical economic transformation seeks to rectify the imbalance.

He says the term radical economic has been hijacked by some people.

“We now know that some highly paid PR specialists contrive the plan to use terms such as 'radical economic transformation' and 'white monopoly capital', essentially to launch a publicity offensive in defence of their tribes and we know who those kinds are."

(Edited by Winnie Theletsane)