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