Date: 22/07/2003
Source: The Presidency
Title: J Zuma: Launch of Community Investment Holdings
ADDRESS BY DEPUTY PRESIDENT JACOB ZUMA ON THE OCCASION OF THE LAUNCH OF COMMUNITY INVESTMENT HOLDINGS, Pretoria Country Club, Waterkloof, 22 July 2003
Director of Ceremonies,
Executive Chairperson, Dr Anna Mokgokong,
The Executive Mayor of Tshwane,
Honourable Judge Ngoepe,
Members of the diplomatic corp,
Esteemed Guests,
Thank you very much for the opportunity to celebrate the re-branding of Malesela Group and launch of Community Investment Holdings.
I am especially delighted to be among some of our top businesswomen and men, who remain firmly rooted in the socio-economic challenges and demands of our time.
I think it is important to acknowledge that the Malesela Group, which was born during the same period as the new South Africa, has grown into a three billion rand company over the last decade. This is indeed no small feat.
It is equally important, given the pace of globalisation and our country's own branding efforts internationally, that you are able to realise your own re-branding.
This will certainly assist the CIH in articulating its numerous and varied social responsibilities in a more pronounced way. It will also serve as your corporate conscience, reminding you of your humble beginnings while you strive to give life to the aspirations and objectives of the company.
I was indeed pleased to learn that you have embraced the government's empowerment policy objectives wholeheartedly. I am reliably informed that at least one division, a subsidiary, MTech, is totally black-managed. I am even more pleased that this confidence was rewarded with its production being pushed up; while at the same time its production costs came down.
I must commend you on making sound business decisions, which no doubt will prove to be as profitable to the company as it is empowering to those who benefit from them.
I am thinking of the Women in Engineering project that you are running at your VaalTek division, where I am told you are training fifty women in engineering, thereby contributing to the empowerment of women in our country.
' I am also heartened that you have embarked on a number of HIV/AIDS prevention programmes across the spectrum of the company. You will inevitably reap the advantages of a healthy workforce. HIV/AIDS prevention remains the most critical tool we have in the fight against the epidemic. We need to of course also encourage destigmatisation and the provision of a caring and supportive workplace environment.
Compatriots, I must, without fear of being too boastful, say that our democratic government has rescued our national economy from the brink of collapse and steered it onto a sustainable growth path.
This has not been an easy feat. The country's economy during apartheid was badly managed and characterised by major structural problems, including gross disparities in the distribution of wealth, income and opportunity and very bad levels of poverty.
Our government and people understood that the restructuring, rejuvenation and modernisation of our economy were key priorities of the new democracy.
I am sure we are all justifiably pleased that we have made great strides with regard to rebuilding and growing our economy, while ensuring that we increasingly address the challenges of poverty and inequality.
Last year our economy grew by 3.8% and 3% in the second and third quarters respectively.
This demonstrates that our economy will continue its steady growth this year despite the general global economic meltdown.
Clearly, we are finally beginning to reap the rewards of eight years of tough restructuring. The first phase was more on economic reform, which focused on restructuring and stability.
We are now moving into a phase, which focuses on growth and employment creation.
Our main areas of increased expenditure are in economic infrastructure, including local economic development handled in partnership with the municipal governments.
These expenditures are aimed at reducing the cost of doing business here and improving the conditions for the growth of small and medium business.
Ladies and gentlemen, I believe that we have established a convincing track record over the past eight years. We have set ourselves realistic targets, which have generally been achieved.
Part of the challenge in achieving stability and predictability is the need to spread the gains of economic growth. We are building a society with strong non-racial, non-sexist and democratic values.
Clearly, to underpin these values, we have to show how an open, democratic society serves the needs of all its people. Key to this process is our strategy and programmes for black economic empowerment.
These include procurement arrangements, employment equity targets, skills development programmes as well as measures aimed at increasing the full participation in and ownership of our economy by black people.
The Black Economic Empowerment Strategy is a necessary government intervention to address the historical, systematic exclusion of the majority of South Africans from full participation in the economy.
While much has been achieved, the extent to which the majority of black people participate meaningfully in our economy remains far too limited. It was therefore necessary to introduce a coherent and focused strategy for broad-based black economic empowerment.
Accordingly, BEE must significantly increase the number of black people that manage, own and control the country's economy, while significantly decreasing income inequalities.
The BEE process will therefore include elements of human resource development, employment equity, enterprise development, preferential procurement, as well as investment, ownership and control of enterprises and economic assets.
Ladies and gentlemen, the success of these initiatives is guaranteed by our proven commitment to find common ground and our willingness to overcome obstacles for our common good as a country and a people.
Every day we are achieving milestones because we are, as government and industry, co-architects of our common socio-economic future.
Together with the trade unions we are, as partners, committed to the national effort to build a vibrant and globally robust economy.
Esteemed guests, it is indeed heartening to see that CIH is positioning itself as an African company that will be active across the continent, including the rural areas.
That is an indication of your willingness not to be left behind in continental priorities, particularly the implementation of the New Partnership for Africa's Development.
We are convinced that through your efforts, and that of others, we will move closer to meeting our goals of building a better country and better continent.
I wish you well in all your ventures, and trust the Community Investment Holdings will grow from strength to strength.
I thank you.
Issued by The Presidency, 22 July 2003
Source: SAPA
Source: The Presidency
Title: J Zuma: Launch of Community Investment Holdings
ADDRESS BY DEPUTY PRESIDENT JACOB ZUMA ON THE OCCASION OF THE LAUNCH OF COMMUNITY INVESTMENT HOLDINGS, Pretoria Country Club, Waterkloof, 22 July 2003
Director of Ceremonies,
Executive Chairperson, Dr Anna Mokgokong,
The Executive Mayor of Tshwane,
Honourable Judge Ngoepe,
Members of the diplomatic corp,
Esteemed Guests,
Thank you very much for the opportunity to celebrate the re-branding of Malesela Group and launch of Community Investment Holdings.
I am especially delighted to be among some of our top businesswomen and men, who remain firmly rooted in the socio-economic challenges and demands of our time.
I think it is important to acknowledge that the Malesela Group, which was born during the same period as the new South Africa, has grown into a three billion rand company over the last decade. This is indeed no small feat.
It is equally important, given the pace of globalisation and our country's own branding efforts internationally, that you are able to realise your own re-branding.
This will certainly assist the CIH in articulating its numerous and varied social responsibilities in a more pronounced way. It will also serve as your corporate conscience, reminding you of your humble beginnings while you strive to give life to the aspirations and objectives of the company.
I was indeed pleased to learn that you have embraced the government's empowerment policy objectives wholeheartedly. I am reliably informed that at least one division, a subsidiary, MTech, is totally black-managed. I am even more pleased that this confidence was rewarded with its production being pushed up; while at the same time its production costs came down.
I must commend you on making sound business decisions, which no doubt will prove to be as profitable to the company as it is empowering to those who benefit from them.
I am thinking of the Women in Engineering project that you are running at your VaalTek division, where I am told you are training fifty women in engineering, thereby contributing to the empowerment of women in our country.
' I am also heartened that you have embarked on a number of HIV/AIDS prevention programmes across the spectrum of the company. You will inevitably reap the advantages of a healthy workforce. HIV/AIDS prevention remains the most critical tool we have in the fight against the epidemic. We need to of course also encourage destigmatisation and the provision of a caring and supportive workplace environment.
Compatriots, I must, without fear of being too boastful, say that our democratic government has rescued our national economy from the brink of collapse and steered it onto a sustainable growth path.
This has not been an easy feat. The country's economy during apartheid was badly managed and characterised by major structural problems, including gross disparities in the distribution of wealth, income and opportunity and very bad levels of poverty.
Our government and people understood that the restructuring, rejuvenation and modernisation of our economy were key priorities of the new democracy.
I am sure we are all justifiably pleased that we have made great strides with regard to rebuilding and growing our economy, while ensuring that we increasingly address the challenges of poverty and inequality.
Last year our economy grew by 3.8% and 3% in the second and third quarters respectively.
This demonstrates that our economy will continue its steady growth this year despite the general global economic meltdown.
Clearly, we are finally beginning to reap the rewards of eight years of tough restructuring. The first phase was more on economic reform, which focused on restructuring and stability.
We are now moving into a phase, which focuses on growth and employment creation.
Our main areas of increased expenditure are in economic infrastructure, including local economic development handled in partnership with the municipal governments.
These expenditures are aimed at reducing the cost of doing business here and improving the conditions for the growth of small and medium business.
Ladies and gentlemen, I believe that we have established a convincing track record over the past eight years. We have set ourselves realistic targets, which have generally been achieved.
Part of the challenge in achieving stability and predictability is the need to spread the gains of economic growth. We are building a society with strong non-racial, non-sexist and democratic values.
Clearly, to underpin these values, we have to show how an open, democratic society serves the needs of all its people. Key to this process is our strategy and programmes for black economic empowerment.
These include procurement arrangements, employment equity targets, skills development programmes as well as measures aimed at increasing the full participation in and ownership of our economy by black people.
The Black Economic Empowerment Strategy is a necessary government intervention to address the historical, systematic exclusion of the majority of South Africans from full participation in the economy.
While much has been achieved, the extent to which the majority of black people participate meaningfully in our economy remains far too limited. It was therefore necessary to introduce a coherent and focused strategy for broad-based black economic empowerment.
Accordingly, BEE must significantly increase the number of black people that manage, own and control the country's economy, while significantly decreasing income inequalities.
The BEE process will therefore include elements of human resource development, employment equity, enterprise development, preferential procurement, as well as investment, ownership and control of enterprises and economic assets.
Ladies and gentlemen, the success of these initiatives is guaranteed by our proven commitment to find common ground and our willingness to overcome obstacles for our common good as a country and a people.
Every day we are achieving milestones because we are, as government and industry, co-architects of our common socio-economic future.
Together with the trade unions we are, as partners, committed to the national effort to build a vibrant and globally robust economy.
Esteemed guests, it is indeed heartening to see that CIH is positioning itself as an African company that will be active across the continent, including the rural areas.
That is an indication of your willingness not to be left behind in continental priorities, particularly the implementation of the New Partnership for Africa's Development.
We are convinced that through your efforts, and that of others, we will move closer to meeting our goals of building a better country and better continent.
I wish you well in all your ventures, and trust the Community Investment Holdings will grow from strength to strength.
I thank you.
Issued by The Presidency, 22 July 2003
Source: SAPA
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