Hon Speaker, affirmative action and black economic empowerment are constitutional imperatives designed in terms of section 9 of the Constitution to correct the inequality and exclusion faced mainly by black people - namely Africans, coloureds and Indians - as well as women and people with disabilities, which were caused by apartheid laws.
I disagree that the statistics on property ownership patterns and distribution of shares on the Johannesburg Stock Exchange, the JSE, indicate that the historical injustices that are a legacy of apartheid have been overcome. It is a fact that inequality in terms of race is still very much part of the South African society.
It is critical to draw a distinction between the ownership of assets or property by a few black people and such ownership by the majority that is still disadvantaged even after 19 years into democracy. It is an undisputable fact that white compatriots still control the South African economy and disproportionately own most of the prime land in the country. With regard to the management of the economy, the 2012 employment equity report indicated that, in the senior management category, white males comprise 59,1%. Black people are the most underrepresented in this category; they are 21,8%. The economy is therefore still controlled by white males.
Let us take the example that the hon member raised regarding shares on the JSE. In its report of 2012, the JSE indicated that, while 21% ownership of shares of the top 100 companies is held by black people, direct black ownership is less than 5%.
When one considers that according to the 2011 Census, Africans, Indians and coloureds make up 90,6% of the population, these figures indicate serious underrepresentation of black people. Africans make up 79,2%, coloureds 8,9% and Indians 2,5%.
In relation to property ownership, the SA Property Sector Charter Council 2010 report estimates that, of the total R4,9 trillion market capitalisation in the sector, R3 trillion falls within historically white residential areas, where the majority of these properties are still owned by white people.
With regard to the standard of living in general, Census 2011 revealed the shocking statistics that the income of the average white household still remains six times higher than that of the average African household. Figures indicate that the average annual African household income is R60 613 while that of the white household is R365 164. The census also revealed that close to 1,9 million African households reported no income at all.
Obviously, this state of affairs cannot be allowed to continue forever. I am therefore happy that you raised this matter, hon member, to remind the House of the urgent need to accelerate economic transformation.
The problem of poor whites is not new. The only difference is that government looks after all citizens equally, while there were special programmes and interventions in the past to alleviate white poverty and reserve jobs for unskilled white citizens. The poor whites in Pretoria West, whom you referred to, were linked to relevant government departments so that they could be assisted with the services they required.
What is important is the need to accept that apartheid left a legacy of inequality and exclusion based on race whose impact will take decades to completely undo. The denial that is often expressed will not take away this fact. We will continue working hard to reverse this legacy in order to build a truly nonracial, nonsexist, prosperous and equal society. I thank you. [Applause.]