Thank you, hon member. I would like to make two points that could perhaps assist. The first is; whether one does a transformation programme through equity or through equity equivalence they both have the same risks that you can in fact have politically connected individuals benefiting disproportionately - by the way politically connected individuals from all political parties and I will not mention names now but those names are in the public domain.
Our job is to be vigilant about it. It doesn't mean that a politically exposed individual has no right to business opportunities, but it does mean that you cannot get an unfair advantage that an ordinary South African cannot get. That is where
we need to focus on. What I want to do is to encourage greater transparency and openness about these things, for example, with the Industrial Development Corporation for many years its financial transactions were not public. It is sadly because it is a bank. Banks always have confidential arrangements with their client, fair enough, but this is also public money. So, I gave a directive that all future transactions have to be public. They must be publicised on the website. Transparency and vigilance is our best guarantee.
I want to conclude with this one issue though; many of our programmes are helping ordinary South Africans. Black South Africans with energy in enterprise - and we should make sure that we deal with any wrong doing, but we don't use a broad brush to say that every programme is contaminated. Many success stories come from the good work that is being done by black entrepreneurs and black industrialists in building our economy.