Don’t misrepresent radical economic transformation: Ramaphosa

Ramaphosa addressed the Gordon Institute of Business Science (GIBS) on Tuesday afternoon.

He said the term is often misused in an attempt to draw attention away from issues such as state capture, but that South Africans must not allow themselves to the fooled.

"Radical economic transformation indicates a new phase of accelerated implementation of the longstanding policies of the ANC," he told delegates.

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Ramaphosa said he believes some are purposefully misrepresenting the term for their own ends. 

"A number of people have also misunderstood it. We now know that some highly paid PR specialists contrived a plan to use terms like radical economic transformation and white monopoly capital to launch a publicity offensive in defense of their clients," Ramaphosa said, alluding to work done by PR firm Bell Pottinger for the Gupta family.

If you oppose those with vested interests, Ramaphosa said, you are painted as opposing radical economic transformation and representing the interests of white monopoly capital.

"It has therefore become accepted that the term radical economic transformation is often deployed to mask or justify activities that would be best described as state capture.

"If we are to progress as a democratic nation, we need to make sure that we are not sidetracked by the term. We must go beyond slogans and look at what needs to be done to redress the imbalances of the past,” Ramaphosa said.