Addressing SA's high unemployment rate

The ANC's 5th National Policy Conference grapples with the triple challenge of stimulating economic growth, addressing racial inequality, and tackling high unemployment rates in South Africa. As the conference draws to a close, all eyes are on the policies that will shape the country's future. Dr. Tim Tebeila, Executive Chairman of ETN Financial Services and a participant in the Economic Transformation Subcommittee, shared his perspective on the pressing issues facing the nation. Dr. Tebeila, a prominent figure in both the mining and financial services sectors, highlighted the need for a new approach to transformation. Despite his success in navigating the challenging business environment in South Africa, he stressed the importance of creating opportunities for black players to participate fully in key industries. One of the key topics of discussion was the revision of the mining charter. Dr. Tebeila expressed reservations about the focus on ownership percentages, advocating instead for a more inclusive approach that empowers black players to have full ownership in mining projects. Drawing from his own experience with Skoko, where he established 100% black ownership from the outset, he called for a fundamental shift in the sector. In the financial services industry, Dr. Tebeila emphasized the need for greater financial inclusion. He urged policymakers to address regulatory barriers that hinder the entry of new players into the market. By advocating for a monitoring system to ensure the effectiveness of policies, he highlighted the importance of creating an enabling environment for diversity and competition. During the conference, Dr. Tebeila raised concerns about the lack of representation of black players in asset management and other financial sectors. He underscored the potential of black talent in driving business growth and called for a paradigm shift to unlock opportunities for meaningful participation. As the ANC deliberates on the way forward, Dr. Tebeila's insights serve as a valuable contribution to the ongoing dialogue on economic transformation in South Africa. His calls for a more inclusive and dynamic approach to policy formulation resonate with the need for bold and decisive action to address the nation's challenges. In conclusion, Dr. Tebeila's vision for a transformative and equitable economic landscape in South Africa offers a pathway towards sustainable growth and prosperity for all citizens.