Nationalisation Debate: South Africa's Mineral Resources Equivalent to One Million Rand per Citizen
Channel: SACSIS
Date: 2014-02-20

Talking about the nationalisation debate in South Africa in relation to the mining sector, black economic empowerment (BEE) expert Duma Gqubule explains that the value of untapped mineral resources in South Africa's is US$4.7 trillion. Put differently, the value of these mineral resources is worth one million Rand per South African citizen. Gqubule argues that the mistake our country made in relation to BEE was to set a target of 25% for black people. By definition, a black empowerment transaction will only benefit a few black people. There has to be more that you take from this industry for the country as a whole, he contends.

Gqubule is interviewed by Fazila Farouk of the South African Civil Society Information Service.