WHY CODESA FAILED THE MAJORITY IN SOUTH AFRICA

Many hail the 1991-92 Convention for a Democratic South Africa (CODESA) as a bloodless transition from apartheid to democracy.

However, an audience member in this 'The Big Debate' clip argued CODESA entrenched capitalist control and maintained white economic dominance at the expense of authentic economic justice for the majority of Black people.

CODESA negotiated for Black people’s political inclusion in the forms of universal suffrage, a democratic constitution and the abolition of apartheid laws. However, the convention shelved the liberation forces’ economic demands, such as land reform, nationalisation of key industries, and economic indemnities. Under pressure from Western powers and capital markets, the African National Congress (ANC) shelved its socialist-inspired Freedom Charter in favour of neoliberal restructuring.

Therefore, instead of abolishing apartheid’s economic legacy, the 1994 compromise maintained the status quo. The white-owned enterprises continued to occupy land, mines, and banks. The 1996 Growth, Employment and Redistribution (GEAR) policy, crafted in the absence of mass public discussion, prioritised foreign investment and privatisation over redistribution.

Black Economic Empowerment (BEE) rewarded a small Black elite while poverty, inequality and unemployment continued. For example, European settlers make up less than 8 per cent of the population yet own over 72 per cent of private farmland.

Ex-ANC intelligence chief Ronnie Kasrils has referred to the economic accommodation as ‘the Faustian pact.’ Others, like analyst Patrick Bond, argue that the transition created a de-racialised ‘elite pact’ rather than a people's economy. 

Video credit: @LANDNOLI (X) / 'The Big Debate,' @sabcnews