Racist economy at the heart of state corruption

It was Frantz Fanon who remarked about the impotency of the"national bourgeoisie" in post-colonial societies.

Whereas capitalists in other countries are responsible for new inventions and pioneer new industries and discover new ways of doing things, all of this is absent in the post-colonial societies described by Fanon. 25 years since the end of apartheid, black control of the JSE stands at only 3 percent in real terms. There aren't any major and recognisable black conglomerates we can speak of.

It is to point out that the economy remains the preserve of the very people who controlled the economy under apartheid. And that those who were excluded in the past remain so today.

Source: Financial Digest (financialdigest.net)

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