ANC's economic transformation chairperson Mmamoloko Kubayi has told a gathering of business leaders that it was unlikely that the country will meet its ambitious economic target for the National Development Plan (NDP) by 2030.

Kubayi instead pleaded that the deadline for key economic goals should be moved to 2035.

"As the NDP’s goals for economic transformation by 2030 are clearly not being achieved, it would be important to reset our time frames and refocus on our achieving the following by 2035," said Kubayi, while addressing members of the Progressive Business Forum on Thursday.

The meeting took place ahead of the ANC national policy conference scheduled for next month.

She said these could include, for instance, an increase in the share of all household income for the poorest 80% of households which is currently around 30% today as well as an increase in the employment ratio (the share of which was under 40% in 2021; adults with employment).

Kubayi said the number of small formal businesses could be doubled, including farms, with black ownership of commercial farm land rising and increase the share of black-owned formal business. 

She also suggested:

•  An increase in the minimum wage in real terms per year, and an increase in union density of formal workers which was at around 35% in 2019;
•  An increase in the share of young people aged 18 to 25 with matric so that we can increase their employability; and
•  An increase in the share of women employed in the formal sector which, at 40% in 2019, is still disproportionate to the population of women.

"This will be achieved by implementing a series of interventions in a range of key economic policy areas, which are outlined in our document..."This will require us to focus on building a capable and ethical developmental state," she said.