South Africa must reform white-dominated economy: (Current president Jacob) Zuma

Reuters ^ | Tue Jun 26, 2012 11:42am EDT | Jon Herskovitz and Peroshni Govender

[Olog-hai]

South Africa's economy is still largely under the control of whites who held power under apartheid, President Jacob Zuma said on Tuesday, and he called for a "dramatic shift" to redress the wealth balance more evenly in favor of the black majority.

Such calls have been a staple of ANC strategy documents for years, and Zuma's policy speech comes months before he will seek re-election as leader of the faction-ridden movement in December. He has also been facing demands from the party's youth wing to nationalize mines and seize white-owned farmland.

Zuma, speaking at the start of a major policy meeting of his ruling African National Congress, said the challenges of poverty, unemployment and inequality posed long-term risks for Africa's richest country 18 years after the end of apartheid.

"The structure of the apartheid-era economy has remained largely intact," Zuma told several thousand ANC delegates.

"The ownership of the economy is still primarily in the hands of white males as it has always been," he added.

Without giving details, he called for a "dramatic shift and giant leap" in coming years to spread the country's wealth more equitably, mentioning the distribution of mineral resources and land ownership as areas which needed to be overhauled.

Zuma said this proposed "second transition" was necessary to complement the negotiated end of apartheid in 1994, when he said "certain compromises" over economic ownership had been made to ensure a smooth political transition from white minority rule. …

[dagogo redux]

Ditto. Bye-bye, SA.

[Melas]

Black men cannot run Africa, how can one run America?

Sorry, but that's just out and out racism no matter how you slice it. There are plenty of reasons to not support this president, but his blackness is not one of them.

[rmlew]

I am aware of the demographic trends and have been since 1991, when the press reported the fact that if current levels of immigration were maintained, white babies would be a minority by 2020 and whites would be a minority by 2040 or 2050. That is why I mentioned 2040. I am hopeful that we will end up better off.

[hinckley buzzard]

Well. Tutu was instrumental in bringing them to power so he can blather all he wants. As for tearing apart the "white dominated economy" we have seen how well that worked out for Zimbabwe. Go for it, zulu einsteins.

[kearnyirish2]

Based on my own uninformed observations, white babies are already a clear minority of babies born in NJ; we don’t have to wait 8 years to make it official.

[MinorityRepublican]

White babies are already a minority here in the U.S., first time ever in 2011.