The R100 billion “Transformation Fund” by the government might sound like a bold economic redress. However, beneath the surface, it’s business as usual: exaggerated promises, vague timelines, and zero accountability (a concept foreign to the cadres).
This isn’t a rejection of transformation; it’s a rejection of hypocrisy. Until there are credible safeguards, independent oversight, and tangible evidence of delivery, the R100 billion Transformation Fund remains exactly what it appears to be: another dangerous and potentially deadly cocktail of cadre enrichment masquerading as economic transformation.
The ANC claims this fund will drive “inclusive growth” and “economic transformation.” But their track record tells the real story: the looting of the R500 billion COVID-19 relief funds, the plundering of Eskom and Transnet, and three decades of broken promises, to name just a few (for lack of allocated copy space).
True transformation is not about headline-grabbing numbers it’s about credible delivery, transparency, and trust. And trust is precisely what the government has eroded over the past 30 years.
Notably, even within the Government of National Unity (GNU), the Democratic Alliance (DA) has rightly opposed this fund, warning of its potential for mismanagement and corruption. The DA argues that real transformation comes from economic growth and deregulation, not another slush fund.
Now, the question is: Can they stop the looting before it starts?
If not, South Africa may have to wait for the next elections to hopefully get a government that delivers, rather than just another billion-dollar/rand scandal.