Director of Strategy at Business Leadership South Africa (BLSA) Sizwe Mbele says the country is making positive strides towards promoting the economic advancement of black people.

Finance Minister Malusi Gigaba delivered his Budget Speech on Wednesday in Parliament, and cited urban renewal and spatial transformation as key factors in driving inclusive growth.

Gigaba has further urged development stakeholders to work imaginatively towards transforming township economies.

While Mbele reiterates the minister’s views, he also encourages more black people to be innovative and start new businesses.

Mbele says the country also needs to strive towards the promotion of more senior black people at executive levels in business.

Fee free education

Gigaba says additional funding of R57 billion will be allocated towards advancing fee free education in 2018.

Mbele says in order to make this into a sound reality, government needs to use these funds effectively and actively root out ineffective and underperforming departments.

He adds that while there is a wave of optimism around free higher education, the key issue rests in gradually ensuring phasing it in without compromising South Africa’s economic growth.

Listen to the full interview below: