Maite Nkoane-Mashabane. Picture: Dieketseng Maleke
Maite Nkoane-Mashabane. Picture: Dieketseng Maleke

International Relations and Co-operation Minister Maite Nkoana-Mashabane says the colour of money in SA is still white and real transformation still needs to start.

Ms Nkoana-Mashabane made the statement in a lecture themed, Transformation Requires a Patriotic Leadership, in Johannesburg on Friday evening.

The lecture was part of the Black Management Forum’s (BMF’s) 40th anniversary celebration.

"The colour of money on this country is still white, it is a fact … SA had a special type of apartheid that said Africans actually do not belong in SA," she said.

She said black people needed to be given opportunities to take part in the economy and ownership was the way to go.

Ms Nkoana-Mashabane also said women made up the majority of the world’s population so the BMF and other organisations like it will not easily attain goals without them.

The minister said the idea that only men could be leaders as this was the African way of doing things had to change.

She also said the BMF and other transformation lobbyists should interrogate what business should do to further transform the economy.

"The real transformation needs to start, it hasn’t taken root," she said.

She said the BMF had been established to aid transformation but, "Please do not (allow) what happened to the National African Federated Chamber of Commerce (Nafcoc), happen to the BMF."

Ms Nkoana-Mashabane was referring to the faction riven black business lobby group, whose president Lawrence Mavundla last year promised would be reintegrated into a single structure.

She also said the continent needed to make use of the young people it had to promote economic growth.

Earlier the president of the forum Mcane Mthunzi said the BMF was shifting gears and changing the way it was dealing with transformation.

"We are tired of talking about transformation but doing nothing about it," he said.

Mr Mthunzi said the BMF would speak up more for black people to be selected for leadership positions.

He cited the forum’s statement condemning Sasol’s appointment of Bongani Nqwababa and Stephen Russell Cornell as joint-presidents and CEOs for the company, as an example of the BMF speaking up.

The forum had said that it believed the position should not have been split into two when there were black people who were qualified to perform the role independently.