Organised black business, labour and rural communities have put the blame on xenophobic attacks squarely on the failure by established companies to fast-track transformation.

The group also threatened to "name and shame black managers" resisting transformation.

"Resistance to the transformation agenda and non-compliance to broad-based black economic empowerment codes and charters and transfer pricing are a form of economic violence visited upon the South African citizenry.

"This economic violence, in turn, has found expression in the deplorable xenophobic unrest that we are currently witnessing across the country," reads a joint statement from the Black Business Council, SA Mining Development Association, Cosatu and Contralesa.

"We stand in solidarity with our African brethren who, like us, have suffered the tyranny of economic deprivation created by neo-colonialism across the continent that has resulted in them seeking opportunities and brighter prospects elsewhere," it reads.

The coalition said frustration and desperation in the SA citizenry was caused by issues like the impending "once empowered, always empowered principles contained in the mining charter court battle is yet another example of the un-ebbing and relentless onslaught against the gains for the economic freedom of our people".

They said established companies continued to break the law, and "then seek refuge in the very law they disregard".

"To date, transformation in the mining industry has consistently failed to reach mandated mining charter compliancy goals, and the BBBEE codes requirements have yet to be realised."

The group said transfer pricing was a sophisticated looting of the SA economy through the "illicit outflow of capital through monopoly capital is denying the taxpayer and government of much needed revenue to invest in rural renewal projects, infrastructure, housing, education, health, food security, and job creation".

They also lashed at black executives who have failed to transform their companies. "The economy is further compromised by the collusion of some greedy members and officials of the historically disadvantaged South Africans...

"The coalition strongly condemns those HDSA agents of monopoly capital who are not furthering the aims of the rapid economic transformation of the country. These agents will be engaged, named and shamed..." the statement reads.

It adds that the group condemns the "xenophobic attacks against our brothers and sisters from across the African continent.

"Like us, they are also vulnerable victims of neo-colonialism and economic apartheid.

"All Africans must unite against poverty, exploitation and the denial of basic human rights.

"This reality can only be achieved by virtue of creating a sustainable African economy and allowing Africa to rise to meet her full socioeconomic and political potential."

The group says it will form a steering committee to embark on "a rapid economic transformation ... campaign that will make real the rapid economic transformation ideals that government has created in the various ... legislation".