Radical change is imminent: Ramaphosa

Deputy president Cyril Ramaphosa told business leaders that South Africa has no choice but to adopt radical economic transformation. Photo: GCIS

JOHANNESBURG - The business sector is divided on government's radical economic transformation drive.

Deputy president Cyril Ramaphosa told business leaders that South Africa has no choice but to adopt radical economic transformation.

Ramaphosa said the policy is urgent, as people must be lifted out of poverty.

While the Black Business Council has welcomed Ramaphosa's speech, Business Leadership South Africa begs to differ.

READ: Ramaphosa insists political challenges can be overcome

"Who willingly plunges his own country into such a catastrophic crisis, where you know that you are destroying business?" asked Bonang Mohale.

"And then you stand on what platform and you say we are going to embark on radical economic transformation. In fact, this is radical economic transformation sabotage.

"Because if you don't have money, the economy is not growing. Very soon we'll be talk about the redistribution of poverty, not wealth."

While Ramaphosa has given his full support to Finance Minister Malusi Gigaba's US trip to reassure investors, Mohale says his organisation is treating him with caution.

"We'll judge him not by his words, by his actions."

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