Will the black business council feed us? The relationship between capitalism and democracy has not necessarily benefited Africa at large
There is nothing as grand and exciting as black people coming together for once, as business entities to involve themselves in the creation of a new economy in South Africa.
The establishment of the Black Business Council (BBC) announces for me a new development where I hope that the agenda and motives of such a gathering are only intended to focus on the transfer of economic power over time from minority capital to black capital and then some. Whether this shall change the socio economics of the country or not is still to be determined. Whether this is advantageous to us or not shall again only be computable over time.
In the past, we have seen determinations to create black business bodies that wish to harness their collective intelligence and resources to develop Africa's economies but some have dismally failed, not by intention, but because of personal greed, the interference by politicians who felt threatened and the failure of such groups to cause meaningful economic change at the bottom. These vices have not vanished at all and continue to pose a real threat to the collectivization of black business efforts to contribute positively to the amelioration of poverty.
I am still to study and engage my mind on the dispositions, motives and history of the leadership of the BBC and I do hope in that investigation I will not find what I fear most. So, let the fears expressed herein not be a finality on the matters but rather be treated as ideas in anticipation.
The issue of greed and the pursuit of material wealth and personal power can never be expunged from the motives of those individuals in business. Like any other capitalist, they have pursued and somewhat perfected the art of the pursuit of profit and I do not expect that such motives should vanish amongst the members of the BBC. They are most likely to be enlarged as more opportunities are presented to them.
There is nothing inherently immoral with running a successful business for profit, let me be clear on that. My only fear is that such platforms may be used by individuals as stepping stones to fatten their purses and thus veer away from the collective interests of its members. This we can only judge through time and will be determined, I think, by the moral character of its leadership and the anticipations of its members.
My second dread is that the coming together of black business and a sitting government may create a partnership whose sole aim is to benefit and unfairly advantage the other. This may result in the entrenchment of a relationship that is exclusive by nature thereby crowd out those in business who may not have the same political affiliation or inclinations as the leadership of the BBC.
In fact the BBC may be forced by circumstances to be partisan and therefore biased in its political interpretations and backing. This, in my opinion, would not be beneficial to the deepening of democracy as enumerated by our politicians and expected by the general public.
In fact, the relationship between capitalism and democracy has not necessarily benefited Africa at large. It is therefore not hard to believe that: the tendency towards tyranny, inherent in a democratic system, is aggravated by capitalism, at its core a despotic economic system, incompatible with economic, and ultimately political, democracy.( Aseem Shrivastava)
Might we then see the development of an oligarchy controlled by a few to the benefit of a few? This is not improbable because the government on the one hand must feed black business but will black business feed us?
My last anxiety is that, the existence of a strong BBC may not necessarily lead to economic transformation. Economic transformation here meaning: the facilitation of a broad ownership by blacks of wealth creating assets and the general economic amelioration of the condition of the poor as envisaged by the constitution.
The challenge I think is that the BBC needs to take a different perspective to economics and social development. At its center must be a philosophy that refuses the historical straitjacket mentality of the capitalistic motive of the pursuit private profit at all costs but must somehow bring in a new African philosophy or approach of doing business with a conscience. Whether that is possible or not, I am not sure. I am sure that it is not welfare nor is it socialism but must be somewhere betwixt.
Our dilemma as blacks is that we cannot be blind to the unfairness of an individualistic disposition of capitalism and what is has wrought, but we must at the same time empower ourselves with wealth as we cannot give what we do not possess. Further thinking and deliberations on this issue is quite imperative if we are to avoid a black capitalist or business class that merely replaces white capital but behaves and upholds the same value system that has bludgeoned the potential of Africa and resulted in mass poverty.
I beg my readers to indulge me in an afterthought that may seem unrelated to the subject matter above but for me, cannot be divorced from the issues covered herein. The subject of access to friendly capital will be the last frontier of economic transformation in South Africa.
In my rather brief sojourn into the Zimbabwean banking sector it was quite evident that the proliferation of indigenous banks accelerated the emergence of a black business class. After all bankers can either make or break you in business. I still wait with much anticipation, the establishment of a South African privately black owned and controlled bank that has a patient ear towards black entrepreneurs. The BBC could consider this as we all know that he who funds you ultimately controls your destiny.
The jury will be out for a while on the BBC but we must continue to encourage them to take responsibility for creating a better Africa and I pray the BBC will not disappoint.
Vince Musewe is an economist and you may contact him on [email protected]
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