6 July 2014

South Africa: Radical Approach Important for Development, Poverty Eradication

Economic Development Deputy Minister, Madala Masuku, says the radical approach to economic transformation is important for development as well as poverty eradication in South Africa.

Addressing a gala dinner on Friday ahead of International Cooperatives Day, Masuku said government was making a radical move to integrate national and provincial frameworks for the development of the provincial economies where everyone would be able to contribute meaningfully.

"The only way to achieve 6% economic growth is to move away from ideas and start acting radically in the implementation process. Targets are set. Plans are now in place. We have to act," said Deputy Minister Masuku.

President Jacob Zuma, in his State of the Nation Address in June, said the country will embark on radical socio-economic transformation to push back the triple challenges of poverty, inequality and unemployment.

The dinner was hosted by the Department of Small Business Development, Limpopo Economic Development Environment and Tourism (LEDET) and the South African National Apex Cooperative (Sanaco) in Polokwane, Limpopo.

International Cooperatives Day is celebrated globally on the first Saturday of July every year. The day is aimed at celebrating and recognising the role that cooperatives play in the social and economic development.

Sanaco Secretary General Thulani Mabuza said a partnership between cooperatives and government was key in sustaining cooperatives and enhancing their contribution to creating jobs in the country. He added that cooperatives were one of the key drivers of transformation and economic growth in South Africa.

"Sanaco will push for all legislation meant to support Small Medium and Micro Enterprises and cooperatives to be implemented successfully by government," noted Mabuza.

Mabuza encouraged cooperatives not to compete with each other, but to cooperate and also not to compromise on quality when providing goods and services to government.

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