Op-ed: We are not ready for radical economic transformation - yet

Many governments have tried and are still on a great path to achieve socio-economic growth through job creation, empowerment programs like tenders, BEE (South Africa) and cooperatives within the agricultural sector. These steps have undoubtedly boosted growth and most are well managed even though corruption is always a stumbling block.

While appreciating successful efforts by governments there is still much to be done since some initiatives are not carried out at all or lack funding to proceed. Some do generally lack proper review or supervisory mechanisms and this decreases greater chances of socio-economic empowerment.

A new term, "Radical economic transformation" has emerged and it is a rhetoric chanted by many leaders. Most leaders seem not to understand its meaning per se. Its objectives are centered around socio-economic equity; land redistribution, financial accessibility for the previously disadvantaged, an increased employment rate and general equitable dominance of the economy.

It is a sad reality that radical economic transformation is nothing more than an illusion if there is no transformational leadership. At the end of the day the legislatures and governments are the custodians of such policies and it is thus fruitless to propose radical economic transformation when there is no transformative leadership. All public institutions including but not limited to the state and other democratic institutions should be strengthened in practice in order to fulfill societal needs as per their mandates.

In view of grave corruption in public systems, radical economic transformation should be set aside until the leadership is transformed or else it will just be a campaign song. It is also hypocritical of leaders to chant about radical economic transformation yet they are the stumbling blocks through corruption and lack of political will.