The Broad Based Black Economic Empowerment (B-BBEE) advisory council has called for improved government and private sector funding for empowerment deals in line with the requirements of the Financial Services Charter. Empowerment is a major campaign issue ahead of the national  elections. SA’s main opposition party, the DA, has rejected BEE in its current form, saying it is being used by the ruling ANC to enrich only a few politically connected elite at the cost of job creation. The DA said in its manifesto that its approach would see the B-BBEE scorecard being “vastly simplified” with the inclusion of time frames for initiatives to help the business sector to plan. It also says its approach will set requirements, as part of the scorecard, to ensure that the beneficiaries of genuine B-BBEE are not just a politically connected elite. The signatories of the charter, including banks, have committed to promote the establishment of “an equitable society” by providing accessible f...

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