Africa-Press – South-Africa. Transformation and economic justice require a willingness to challenge the status quo, Deputy President Paul Mashatile said on Monday. Speaking at the launch of the Transformation Fund at Freedom Park heritage site and museum in Pretoria, he said SA faces one of the highest levels of economic inequality globally, with a Gini coefficient of 0.63 and a poverty rate of 17.82%, highlighting the significant disparity in income and wealth.
“The measure of inequality implies a tiny fraction of the population disproportionately enjoys a large amount of wealth and income that is inaccessible to the majority,” he said.
“The Freedom Charter advocates for a society in which all individuals, regardless of race or gender, should enjoy equal rights and opportunities. Together we must work hard to pull our people out of poverty by 2055, the centenary of the Freedom Charter, using lessons learned from China.
“I am introducing the 2055 timeline because this year we are celebrating the 70th anniversary of the Freedom Charter, and the next 30 years must be more decisive, driven by practical interventions in bringing Africans and black people into the economy in more significant ways.”
The Transformation Fund intends to raise R100bn over five years in partnership with the private sector to support the funding requirements of black industrialists and that of small and medium-sized black-owned enterprises.
Mashatile said challenges impeding the path to an inclusive economy would be tackled at a high level, including that of corruption. “We must commit to addressing corruption by strengthening our institutions, fostering transparency and accountability and encouraging public participation and oversight.
“Government is committed to fighting corruption, focusing on accountability, transparency and the dismantling of corrupt networks. The effort includes establishing specialised investigative units and strengthening legislation to combat money laundering and fraud.”
He also proposed the establishment of “war rooms” to ensure targets are met on: the economy and jobs; poverty and hunger; and clean governance, prioritising 10 to 15-day payment cycles and transformative procurement.
“Transformation and economic justice require dedication, vision and a willingness to challenge the status quo. The war rooms will not follow the normal cabinet process. Instead they will take a delivery approach, which is the discipline of getting things done. We will do stock takes, deep dives and intervene decisively where there is no progress.
“The war rooms must meet regularly to track the work being done and report to the larger war room, which I will convene and report to the president.”
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