In this thought-provoking episode of “Under the Microscope,” Dr. Riaad Moosa delves into the concept of Radical Economic Transformation (RET) and its impact on South Africa. Despite its promising name, RET has been hijacked by political elites for personal gain rather than meaningful economic upliftment for the country’s poor and marginalised communities.
Riaad Moosa explores how RET, originally intended to address the racial and economic inequalities left by apartheid, has instead become a tool for corruption and political maneuvering. He critically examines how concepts like Black Economic Empowerment (BEE) and land expropriation without compensation, while theoretically sound, have been marred by mismanagement and exploitation.
The episode highlights the misuse of RET by figures such as ex-President Jacob Zuma and his associates, who have leveraged the rhetoric of economic transformation to deflect attention from their own criminal activities and to stoke divisive sentiments. Dr. Moosa also critiques the role of PR firms like Bell Pottinger in crafting narratives like “White Monopoly Capital” that further exacerbate societal discord, and exploit the rage of the poor.
Dr. Moosa concludes by urging viewers to look beyond political slogans and engage in genuine community efforts to drive positive change. He emphasises the importance of active citizenship in addressing inequality and fostering true economic transformation, by supporting organisations like Gift of the Givers and Chosa, who are in actual fact uplifting people and creating pockets of realistic economic transformation.