It is not possible to read the headline in the Business Report of August 29, reporting that the Industrial Development Corporation (IDC) fell short of its job creation target but excelled in transformation funding, without feeling a sense of derision at the prioritization of ideology ahead of economic growth.
Of course, the IDC is just one of some 700 state-owned enterprises (SOEs) where the racist ideology of the Employment Equity Act is zealously applied. The economically retarding effect of this political virus is what infects the Small Enterprises Act, the Competitions Act, the Petroleum Resources Development Act, the Liquor Act, Legal Practices Act, the Property Practitioners Act et al – in 140 different ways.
The prescription of demographic quotas on employment is the incubus that restrains growth and prosperity, thereby hindering upliftment. It is also a travesty because it disdains population diversity enshrined in the preamble of the Constitution.
One of the saddest images we see each year when the matric results are announced is the photographs of matriculants who have excelled. The reason is that many of those top students are not black; overseas countries are most likely to benefit from their skills and potential because of the ANC’s obsession with racist ideology.
Until the economy is premised on unregulated demographic diversity instead of the extent of its blackness, South Africa’s economic potential will continue to languish – to the detriment of all.
Add Comment