The Democratic Alliance (DA) has launched its economic policy that it says is based on the UN Sustainable Development Goals ahead of the party’s policy conference in April.

The party says the race-based economic policies of the African National Congress – including Black Economic Empowerment – have failed to lift the majority of people out of poverty.

At a media briefing in Cape Town, on Friday, the party’s head of policy, Gwen Ngwenya, says the DA’s alternatives have a number of advantages over the ANC’s BEE scorecard.

She says: “Essentially what BEE does, it embodies a system of trickle-down redress. Now trickled down redress is the idea that if you transfer assets positions or contracts from one elite to another, this will lead to broad-based prosperity. This model has clearly not worked. What we do need to do however is to focus on the actual drivers of inequality of opportunity on the ground. In other words; the very material things that keep the average South African excluded from the economy and keeps them poor and without opportunity.”