The government is considering a review of BBBEE to align it with its priorities of enabling industrialisation, inclusive growth, localisation and the facilitation of access to finance for emerging enterprises, president Cyril Ramaphosa said Wednesday.
Ramaphosa was answering questions in the National Council of Provinces (NCOP).
“The purpose of the review will be to improve the effectiveness of BBBEE implementation, address gaps in implementation, set timelines and provide for strong linkages between BBBEE and industrial policies,” said the president.
“We need to ensure that our BBBEE policies support inclusive growth, just as we need to ensure that growth supports transformation. Our task is to strengthen BBBEE and ensure that it works effectively in promoting the participation of black people in our economy, not to abandon it.”
The issue of BEE continues to be a sensitive matter in the government of national unity (GNU) with the opposition parties questioning its implementation. They argue the policy was being abused to favour only a few.
Ramaphosa defended the policy, saying the country was far from transformed.
“Equality includes the full and equal enjoyment of all rights and freedoms. To promote the achievement of equality, legislative and other measures designed to protect or advance persons, or categories of persons, disadvantaged by unfair discrimination may be taken.”
“The BBBEE Act remains a fundamental lever for transformation, as part of our broader strategy to achieve more rapid, inclusive and sustainable economic growth in the country.”
Ramaphosa said even though some GNU partners were against black empowerment, the majority of South Africans were in support of transformation.
“As I have said before, we must dispense with the false notion that we must make a choice between growth and transformation. BEE is not only compatible with investment and growth, but is essential to achieve broad-based growth and prosperity.
“However, despite the progress that has been made across a range of measures, we can do better. As with any other policy, we must constantly assess whether we are achieving our goals and where we can make improvements,” Ramaphosa said.
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