BEE isn’t working and business can only help if the government helps grow the economy
SA’s biggest companies believe they have the solution to the racial inequality that has riven the country since the end of apartheid a quarter-century ago: grow the economy.
Talks include the need to address ailing state-owned entities and short-comings in the state’s capacity to deliver on its plans, according to Martin Kingston, the executive chair of Rothschild & Co, who heads the business grouping. BEE has been the fulcrum of ANC policy since it came to power in 1994. It includes the transfer of company stakes to people from previously disadvantaged backgrounds and awarding contracts to businesses that meet black employment and ownership targets.However, scorecard-led policies have led to a tick-box approach, said Lerato Ratsoma, MD of Empowerdex, an adviser on transformation. “The impact has not been entrenched nor sustainable.
The association is also helping small, black-owned businesses through a supply-chain development programme, said Leon Campher, its CEO.
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