'We emphatically reject the approach to Black Economic Empowerment' says the DA

For some time not we have been aware of the Democratic Alliance's rejection of the policy of Broad-Based Black Economic Empowerment and this was confirmed in their election manifesto, which was launched at the rand stadium yesterday.

In their manifesto they say: we emphatically reject the approach to Black Economic Empowerment (BEE) as carried out by the ANC, which has only served to enrich a politically connected elite and to dampen economic growth, at the cost of job creation. When combined with the ANC’s plans to expropriate property without compensation, the current government’s B-BBEE plan will only serve to make the pot of economic wealth in our country smaller and more difficult to share.

The party says they will approach BEE by codifying specific metrics which will help signify successful redress, and introduce social protection measures which will provide for all currently disadvantaged South Africans regardless of their, or their families' exposure to past injustice.

If you look at the fundamental objective of the act, it is to advance the economic transformation and the economic participation of black people in the economy. Now the questions is, why has it failed and how do we fix it?

Tasneem Fredericks - Deputy President of the Black Management Forum

Tasneem said, the failure of the government with the BBBE is that they have not been monitoring it enough, there has been no commitment by the private sector as well to assist.

Click below to listen to the full interview:


This article first appeared on CapeTalk : 'We emphatically reject the approach to Black Economic Empowerment' says the DA


Recommended

by NEWSROOM AI
Read More
@catcallsofcapetown: 'They tell stories they've never told anyone before'

@catcallsofcapetown: 'They tell stories they've never told anyone before'

Lead SA: Gadeeja Abbas expands on the campaign, which reaches out to anyone who has experienced gender-based violence.

'Aarto bill there to create revenue, not to promote road safety'

'Aarto bill there to create revenue, not to promote road safety'

Rudie Heyneke outlines Outa's objections to the traffic demerit system signed into law this week.

'It's not about gangs, it's about a society that is hurting'

'It's not about gangs, it's about a society that is hurting'

Criminologist and author Don Pinnock says deploying the army on the Cape Flats is too little, too late.

Trusts and capital gains tax

Trusts and capital gains tax

Certified financial planner Paul Roelofse says great care has to be taken with the structuring of a trust.

DA unveils its 2019 election manifesto

DA unveils its 2019 election manifesto

'We want to prioritise more on education and safety' says Alan Winde - DA Western Cape premier candidate

[LISTEN] An in-depth look at the EFF manifesto and whether its feasible or not

[LISTEN] An in-depth look at the EFF manifesto and whether its feasible or not

Eusebius McKaiser facilitated a discussion with political analysts Sithembile Mbete and Sizwe Mpofu-Walsh about the EFF manifesto.

Popular articles
Feeling tired of life and burnt-out? You may want to check this out

Feeling tired of life and burnt-out? You may want to check this out

Bruce Whitfield interviews Judy Klipin, author of “Recover from Burnout: Life Lessons to Regain your Passion and Purpose”.

Benguela Global Fund Managers is buying Naspers, Standard Bank and Pick n Pay

Benguela Global Fund Managers is buying Naspers, Standard Bank and Pick n Pay

Zwelakhe Mnguni (CIO at Benguela Global Fund Managers) shares his stock picks of the week: Naspers, Standard Bank and Pick n Pay.

'Debt relief law may cause banks to stop lending to lower-income clients'

'Debt relief law may cause banks to stop lending to lower-income clients'

The Money Show’s Bruce Whitfield interviews Cas Coovadia, Managing Director at the Banking Association of South Africa.

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Gift of the Givers fears two South African men who went missing in Vietnam may have fallen prey to an organ harvesting syndicate.

[WATCH] Father and daughter dance-off changes tune when she starts twerking

[WATCH] Father and daughter dance-off changes tune when she starts twerking

Khabazela shares tweets and Facebook posts that have gone viral.

Gauteng Liquor Act prohibits passengers drinking in vehicles, says MMC Sun

Gauteng Liquor Act prohibits passengers drinking in vehicles, says MMC Sun

When you do take a taxi, drink at your destination and not in the cars, says City of Johannesburg MMC for Safety Micheal Sun.

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.