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Apr 30, 2003

Power to the people

The development of black economic empowerment in South Africa

When the African National Congress came to power in South Africa in 1994, it inherited an economy deep in crisis, characterized by low growth equilibrium, underdevelopment and racial exclusion. More than three centuries of black exploitation and half a century of Apartheid rule had restricted the majority of the South African population from participating in the economy, resulting in deep structural problems.However, during almost a decade of ANC rule, the South African economy has enjoyed

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