I think the critical point, really, is that we need to focus black economic empowerment more on the creation of new wealth rather than on these big deals that have been characteristic of this process in the past, of people going to banks, borrowing a lot of money, buying this and when the shares don't perform very well, the shares go back to the banks, because there's other people who own this anyway. I think we need to re-focus it so that it really does impact on growth, new investment, new employment and a general, better spread of wealth in South Africa.
Thabo MbekiThat it is not enough to catch a criminal and get them convicted and so on, because the victim remains with the consequences of the crime. Something needs to be done. Let's complete that process, interact with civil society about this, so that we will specify what is it that we do in the context of that Charter that would then make this positive impact on people who might have been affected by crime.
Thabo MbekiYou need to be able to do that to market these possibilities to these specific investors who would be interested in a sector of that kind. It's what would be normally done by anybody with regard to attracting investment to particular sectors of the economy.
Thabo MbekiPope Benedict XVI assumes leadership at a critical time in which the world's collective wisdom and leadership including that of the religious community is most important to face up to challenges of deepening poverty and under-development afflicting many people of the world.
Thabo MbekiI am quite convinced that we need to increase the resources that go to municipalities if we want the municipalities to do the things the Constitution and the law say they must do. It can't be avoided.
Thabo MbekiWhen I was in government, the South African economy was growing at 4.5% - 5%. But then came the global financial crisis of 2008/2009, and so the global economy shrunk. That hit South Africa very hard, because then the export markets shrunk, and that includes China, which has become one of the main trade partners with South Africa. Also, the slowdown in the Chinese economy affected South Africa. The result was that during that whole period, South Africa lost something like a million jobs because of external factors.
Thabo Mbeki