Not the most eloquent of people. But I listened to it and I thought it was well delivered. He seems to have balanced zuma's pilfery well with a country that hates him. But this is not a platform to comment on gigaba's speech (and yes he will remain in lowercase because he is in fact a zuma/gupta patsy). However he did speak (just like Johnny Rotten would) about the transformaysheein of the financial sector. He says he and bolshie bob are in favour of the latest draft of the FSC and that some NEDLAC meeting will happen net year to align this with the joke that are bob's revised codes. And I quote
Honourable Speaker, we also need a transformative financial sector – a sector that is not only transformed, but is transformative to the economy. The Standing Committee on Finance has done excellent work over the past few months holding hearings on all aspects of financial sector transformation. There is consensus that more can be done in transforming the sector. Their draft report carefully balances the competing interests of the nation as a whole, foreign investors, borrowers, lenders and ordinary South Africans.
This report will assist in preparing for the Financial Sector Summit that we hope will be convened early next year, so that we can take stronger steps in developing appropriate targets for the Financial Sector Charter which accelerate broader transformation.
In the interim, Minister Davies and I support the latest version of the financial sector charter all stakeholders have developed in the last two years, to comply with the latest BEE codes. The development of Sector codes is an integral and strategic vehicle to advance transformation in the economy at sectoral level. Sector codes provide sector stakeholders an opportunity to develop a common vision for the growth and transformation of their sector.
The new financial sector code, supported by all stakeholders, sees transformation as being about not only ownership, but also skills development, targets for empowerment finance, access to credit, management control, and the provision of services to previously underserved areas.
I don't know which draft that is - but this one has been doing the rounds for the last couple of years. If asked - I have no idea where and how I got it. It's a Word document - that makes for great editing.
Let's see where this takes us
Comments