Raymond Langa's Vision for Building a Truly Inclusive Economy in South Africa

Nov 29, 2024

Photo: Courtesy of Raymond Langa

As South Africa marks 30 years of democracy, the country stands at a crossroads in its pursuit of an inclusive economy. Broad-Based Black Economic Empowerment (B-BBEE), a cornerstone of economic transformation, has made notable strides but faces criticism for falling short of its lofty goals. The anniversary of democracy is a poignant moment to reflect on progress and recalibrate efforts to ensure a truly equitable economy that benefits all South Africans.

Raymond Langa, Group Chief Executive of Leagas Delaney South Africa, reflects on this milestone with a deep sense of purpose. Born in 1989, a year of transition and uncertainty, Langa identifies as part of the millennial generation uniquely positioned to shape South Africa’s economic future.

MEET RAYMOND LANGA

Raymond Langa is the Group Chief Executive of Leagas Delaney South Africa. With over 15 years of experience in marketing and advertising, Langa leads with a commitment to innovation, inclusivity, and transformative leadership. He is driven by a passion for creating value and making impactful contributions to both clients and the broader community.

“For those of us born in the late 1980s, this anniversary resonates deeply. We are both the beneficiaries of the sacrifices of those who came before us and the architects of the future,” says Langa. “As a millennial leader and business owner, I often reflect on the role of B-BBEE in shaping our nation’s economy. The question we must now ask is this: Is B-BBEE doing enough to ensure a truly inclusive economy? And if not, how can we collectively do better?”

The Vision of B-BBEE

At its core, B-BBEE was introduced to redress the economic imbalances caused by apartheid, aiming to create equity not just in numbers but in opportunity. Langa articulates this vision powerfully: “The South Africa I was born into was a nation of stark contrasts. A small minority held the majority of wealth and power, while the majority were excluded from economic participation. B-BBEE was born from the necessity to redress this imbalance, to open up opportunities that had been denied to so many.”

While the policy has achieved significant wins, such as black ownership reaching 29% in listed companies and women holding 25.8% of top management positions, Langa stresses that these figures tell only part of the story. “At its heart, B-BBEE was never just about equity in numbers; it was about creating equity in opportunity, developing a society where every South African, regardless of race or gender, could thrive,” he emphasizes.

The Gaps in Implementation

Despite its noble intentions, B-BBEE has faced challenges in execution. Many businesses treat it as a compliance exercise rather than a transformative policy. Practices like “fronting,” where companies misrepresent black ownership or management to achieve higher B-BBEE scores, undermine its purpose.

“Over the years, businesses have found ways to exploit loopholes in the system, turning what was meant to be a transformative policy into a compliance exercise,” Langa notes. “The focus on short-term compliance undermines the long-term goals of the policy. Instead of bringing about real inclusivity, this box-ticking approach perpetuates inequalities by prioritising appearances over meaningful transformation.”

Corruption, nepotism, and cronyism further erode trust in the system. Coupled with high youth unemployment at 45.5% and persistent gender disparities, these issues highlight the urgent need for a renewed commitment to economic inclusivity. “For women, particularly those in marginalised groups, systemic challenges persist,” Langa observes. “While the numbers may show progress, the lived reality often tells a different story: unequal pay, limited mentorship opportunities, and workplaces that still struggle to accommodate the realities of women’s lives.”

The Millennial Mandate

Millennial leaders, characterised by their commitment to diversity and inclusion, are uniquely poised to drive the next wave of transformation. According to Deloitte’s 2023 Millennial Survey, 74% of millennial leaders prioritise inclusivity and diversity within their organizations. For Langa, this statistic is a call to action.

“As millennials, we often hear we are the most diverse, inclusive, and forward-thinking leadership group in history,” he says. “For me, this is not just a statistic; it’s a calling. Transformation is not a box-ticking exercise but a commitment to the belief that diversity strengthens us all.”

Langa believes real transformation requires bold and actionable steps:

Champion women: Address gender pay gaps and provide pathways for women to enter leadership roles.
Empower young people: Invest in education, skills development, and mentorship to prepare the next generation for meaningful careers.
Demand accountability: Ensure that transformation efforts are transparent, ethical, and focused on long-term outcomes.

A Vision for the Future

Langa’s vision for South Africa extends beyond compliance. He calls for a commitment to creating a truly inclusive economy where every individual can thrive. “Transformation is an ongoing process, not a quick fix, requiring continuous effort and unwavering commitment,” he says. “As a millennial business leader, I believe our generation has a unique opportunity to reshape the narrative. We are not constrained by the past, but we carry its lessons with us. Our challenge is to build on the foundation laid by B-BBEE and ensure that its impact is felt by all South Africans, now and in the future.”

The road to an inclusive economy is neither quick nor easy, but with leaders like Langa championing meaningful change, South Africa can move closer to a vision of equality, justice, and opportunity for all its citizens.