In addition to creating jobs and eradicating poverty, our transformation agenda also embraces the creation of a nonracial entrepreneurial class by ensuring that the ownership and control of capital is deracialised so that we broaden the ownership base and break the stranglehold of monopoly capital on our economic development.
It is, therefore, imperative that the Competition Commission continues to address monopolistic, collusive and anticompetitive behaviour, and should even become bolder in its preventative and punitive measures. This should stimulate competition in various sectors and assist with expanding black economic empowerment, BEE, participation in the economy.
The recently revised broad-based black economic empowerment, BBBEE, policy, including the scorecard, is an essential policy direction which seeks to deracialise the economy and broaden capital ownership and control. I thank you. [Applause.]