ANC to probe economy

The ANC is proposing a detailed investigation into the "underlying structure" of the economy.

The party is under pressure to deal with a limping economy, characterised by low economic growth and rising unemployment.

This is also amid a renewed push for a "radical economic transformation" from President Jacob Zuma and his supporters.

Its draft policy documents, however, are conservative in their approach - indicating that it is set to be a contentious issue at its policy conference in June, a precursor to its national elective conference in December where policies will be adopted.

According to the documents discussed at a special national executive committee meeting last week and sent back for revision, a radical economic transformation is about "fundamentally changing the structure of the South African economy from an exporter of raw materials to one which is based on beneficiation and manufacturing".

"In addition to ensuring increased economic participation by black people in the commanding heights of the economy, radical economic transformation must have a mass character."

ANC ally, the SA Communist Party, criticised the current calls for radical economic transformation by some quarters in the party, saying these were mere "rhetoric" aimed at enriching the elite and that the kind of transformation required had to improve the lives of workers and the poor.

The ANC proposals said the radical economic transformation should reduce unemployment, return land to the people, increase black ownership and control in the economy, activate small business, raise levels of investment, strengthen conditions of the poor and working class, reduce poverty and inequality and dismantle monopoly practices.

Labour ally Cosatu cautiously welcomed the renewed focus . "The ANC has no other choice . because failure to do so will result in the movement being impeached by this economy in 2019."