Zuma: We need more black-owned businesses
President Jacob Zuma believes access to finance is an impediment to the development of black business.
Speaking during the Black Business Council's Baobab awards
gala dinner in Sandton last night, Zuma said
the Black Business Council has become a beacon of hope for black people and
black business development.
President Zuma said in order for South Africa's economy to thrive, it is critical for black people to own businesses rather than just working for them.
"Political freedom has been achieved, but economic freedom remains a work in progress," Zuma said.
He believes a successful economy needs the majority of citizens to play a meaningful role, beyond being workers.
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The president also said majority control is imperative for a thriving economy. This would necessitate black people working together, instead of working against one another.
But President Zuma acknowledged that financial backing is key.
"Whilst we fight, other groups are doing business. At the heart of the economy is finance. And if you are deprived access, you are deprived access to economic activities," Zuma concluded.