We need to increase the capacity; we need to improve performance so that we are more effective at lending that kind of support.
Thabo MbekiIf you look for instance at the automobile industry, part of the reason that you have the expansion of that sector, is precisely because we have gone out to talk to the automobile companies to explain government policy with regard to that sector, to talk to them about the MIDP and things like that. And indeed, it has been a very important part of attracting those investors to put in money in the South African economy and build motorcars in South Africa.
Thabo MbekiWe can't treat the matter of black economic empowerment as just the redistribution of existing wealth. It really has to focus on new investment, on growth, on development of employment and so on and so on.
Thabo MbekiI come back to what I had said earlier: the policies might be there but are people benefiting from the policies? You do find that in many instances, though the policies exist, they are not having the necessary impact. That is a particular challenge in local government, because that is where all the services get delivered.
Thabo MbekiWe do not accept that human society should be constructed on the basis of a savage principle of the survival of the fittest
Thabo MbekiWe raised the matter of an agreement that was reached at the Growth and Development Summit, which was that we should access a certain part, 5% was mentioned, of the funds in the hands of the institutional investors, domestically, for investment in the real economy. That being an agreement of the Growth and Development Summit, we will engage South African business to see how we can make that a practical thing. So, there is a different set of engagement with local business.
Thabo Mbeki