Richard Chemaly
5 minute read
30 Jul 2021
1:13 pm

Back to the drawing board: How to make BEE work

Richard Chemaly

If we want B-BBEE to be effective, it’s time to leverage the private sector.

Picture: iStock/Citizen.co.za

It has been over two decades of broad-based black economic empowerment (B-BBEE) strategies in one form or another and one thing we can all admit is that broadly, black people have hardly been empowered by it. Frankly, it was always an idiotic goal. One can’t focus policy on upper echelons of business in an ailing economy and expect it to broadly empower 80% of the population. Even if you could, the policy lends itself to amassing wealth among a select few with no real further steps to making that wealth go a long way. Actually, it probably does go a...