Construction settlement pact leaves BEE waters murky
Far from making things clearer, the government’s so-called settlement agreement with seven major construction groups has further muddied the waters with regard to its proposed R4-trillion infrastructure spending programme over 15 years. Key to the flurry of stock exchange announcements earlier in October that they had reached a Pax South Africana with the state, the construction companies and the government have not been willing to shed light on wholesale discrepancies in their announcements. Murray & Roberts became the seventh major JSE-listed construction and engineering group to join a "voluntary" payment scheme that will see R1.5bn put towards transformation in the sector over the next 12 years. Along with Group Five, Wilson Bayly Holmes-Ovcon, Stefanutti Stocks, Raubex, Basil Read and Aveng, it says the main aim of the agreement is to strengthen the relationship between the sector and the government and to develop a transformed and inclusive construction industry. But with all ...
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