ARTICLE: BUSINESS, RADICAL ECONOMIC TRANSFORMATION AND THE ANC – THE HOUR IS LATE

Johann Rupert, Executive Chairman of Remgro and CEO of Richemont, said recently in London at a shareholders meeting that “radical economic transformation” was just a codeword for theft.
The ANC responded within hours with a blistering statement and a torrent of comments, straight from the socialist-Marxist economic textbook. They warned Rupert to remain silent because he is a “beneficiary of apartheid’s exclusionary policies” with “ill-begotten privilege”. The insinuation is that he opposes economic empowerment and change, and that he does not act in the interests of a democratic system.
Even though no comments have been forthcoming from other South African business leaders, it can be assumed that a substantial number of them agree with him on this point and say exactly the same in private conversations and in board meetings.

The chairs and tables have been packed away, the delegates are home and the myriad of reports of the ANC’s 5th Policy Conference are at Luthuli House for editing, publication and, in due course, for sending to regions and branches countrywide for discussion. The final policy decisions will be made in December, at the Elective Conference.

