NEWS

Gordhan: Transformation Is Not Self-Enrichment

The finance minister has also urged public officials to safeguard SA institutions.

27/03/2017 08:25 SAST | Updated 27/03/2017 11:07 SAST

Finance Minister Pravin Gordhan has weighed in on the "radical economic transformation" debate, telling a conference on Friday that he rejected those who interpreted the phrase to mean self-enrichment, Business Day reported on Monday.

According to the paper, Gordhan was speaking at a Deloitte post-budget breakfast on Friday.

Gordhan reportedly said he rejected the approach of those who said: "I want money for myself". He said growth and transformation went together.

"Transformation is not only about me as an individual getting better opportunities but about improving the life prospects of the majority of South Africans," Gordhan reportedly said.

Gordhan also reportedly said the tiff between Treasury and Sars was "overstated and overemphasised".

Sars and Treasury have reportedly been at loggerheads, specifically over Sars' revenue collection shortfall.

Gordhan urged public officials to strengthen their institutions and ensure the institutions attained more legitimacy among citizens.

Gordhan reportedly said it was key to regain confidence in SA and its institutions, and to ensure that key institutions were defended.