Pretoria, Sep 9 (IANS): Racism still prevails in South Africa's private sector, with some companies in the country monopolising the infrastructure, a minister has revealed to state-run news agency BuaNews.

Public Enterprises Minister Malusi Gigaba said: "A consideration is whether the private sector can be trusted to have the intrinsic interest of transformation at heart such as in our case, where racism still prevails, particularly in business and you have a few established companies monopolising the infrastructure."

"Many private sector business leaders know there is a problem that business cannot flourish in a politically and socially unstable context," he said.

He said the sector was aware that if it did not contribute to job creation and economic development in a more concerted manner, there would be no future for their enterprises.

"The question is how can government and business find one another and forge a meaningful compact to invest aggressively in all the right areas to grow our productive capabilities and increase employment," he said.

The minister called on "black businesses" to make a contribution to uplift those who were economically excluded.

"What is clear is that private enterprise in South Africa is in desperate need of fresh leadership, and this is what government expects of you, the black business leaders of South Africa, to provide."