From averting a possible civil war, especially after the death of Chris Hani, to negotiating a new political settlement, one aspect SA did not include in its birth of democracy was deep economic discussions, writes Monde Ndlovu.
In reflecting on economic freedom, Lot Ndlovu said the following: “The new economic dispensation should match the aspiration for economic freedom and the fulfillment of the highest ideals of our democracy.”
From averting a possible civil war, especially after the death of Chris Hani, to negotiating a new political settlement, one aspect it did not include was deep economic discussions. He often lamented the missed opportunity, and further stated how this moment confused both black people and white people.
The current conversations organised by the government, business, and other interested parties in society do not adequately deal with the economic question, or rather, economic freedom. Therefore, B-BBEE as a framework needs to be reviewed, especially the priority elements, and ownership in particular. The financing model for B-BBEE transactions needs urgent attention, along with some of the principles that underpin the ownership elements in the framework.
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