Reitumetse Makwea
3 minute read
26 Jul 2022
4:31 am

Thoughtless RET could hurt poor as much as flawed BEE did

Reitumetse Makwea

An expert says the best way to transform the economy is to improve the educational outcomes of the majority of South Africans.

Picture: iStock

Radical economic transformation, if not implemented carefully, especially when it comes to skills development, could drag the country’s economy backwards and result in more poverty, inequality and high unemployment rates. That’s the warning from economist Azar Jammine, who said transformation policies have prevented transferring skills properly, as more young people fail to reach the minimum skill levels required to compete in the international economy. “The way black economic empowerment policies have been implemented have favoured a handful of connected individuals who have enriched themselves,” he said. ALSO READ: Back to the drawing board: How to make BEE work “And the majority...