PRESIDENT Cyril Ramaphosa said on Thursday that State Capture has deeply damaged the South African economy and weakened public institutions to the detriment of black economic empowerment (BEE) and the advancement of black professionals in general.
Ramaphosa was addressing the Black Business Council Summit Dinner at the Gallagher Convention Centre in Midrand, Johannesburg.
The two-day Black Business Council Summit convened under the theme, “Creating Jobs and Growing the Economy Through Supporting Localisation, Industrialisation, SMMEs, Black-Owned, Women-Owned and Youth-Owned Businesses”.
The Black Business Council Summit brings together government, civil society and business leaders to deliberate on socio-economic opportunities and challenges.
“The effects of state capture have been felt across society. State capture has deeply damaged our economy, weakened our public institutions and destabilised our democracy,” said Ramaphosa.
“But it has also hurt the cause of black economic empowerment and the advancement of black professionals.”
“Over the last decade, we have seen
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