President Jacob Zuma commits to radical economic transformation
President Jacob Zuma has committed to radical economic transformation in the country.
This comes as South Africans continue to reel from the highest unemployment rate in thirteen years.
Atleast 27 percent of the country’s population is unemployed with some young people not having had a job in the past five years.
During the State of the Nation Address President Zuma said the economy needs to be in the hands of the poor – majority of which are female and black.
He says there needs to be a change in the ownership and management of the economy.
He raised concern about how majority of black people are still earning less when compared to their white counterparts.
In achieving this goal – the president says new laws have been in put place to ensure big contractors must subcontract 30% of black businesses.
Kaya Fms Keneiloe Huma takes a look at the promises and commitments made by the president to and grow the economy fast enough to create jobs.