Whether President Jacob Zuma stays or goes is of little consequence to the economic wellbeing of the poor. This according to the South African Institute of Race Relations (IRR)‚ which launched a report on Tuesday, making its case for the introduction of a new system to replace black economic empowerment (BEE). This follows‚ among other research‚ a 2016 field survey that showed that just 13% of black people benefited from employment equity‚ 14% from BEE ownership deals and 9% from BEE tenders. The survey also found that 15% of black people benefited from land reform‚ many of whom opted for cash payments rather than land. "Overall‚ some 14% of black South Africans have benefited from BEE‚ whereas 86% have not‚" said researcher Anthea Jeffery. Jeffrey has recommended an overhaul of BEE‚ criticised for curbing investment and fuelling corruption‚ in favour of economic empowerment for the disadvantaged (EED). The system would focus on rapid economic growth and job creation by increasing a...
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