BEE needed for peace and order, says Black Business Council
BBC president says black participation in the upper levels of the economy is pathetic and will take decades to fix
Black Business Council (BBC) president Sandile Zungu says black economic empowerment (BEE) cannot simply be wished away as it is necessary for creating a more orderly and peaceful society.
His remarks come amid growing criticism of BEE. The country’s official opposition party, the DA, rejected race as a way to categorise people at its recent policy conference, arguing that BEE is being used to enrich only a few of the politically connected elite at the cost of job creation. The party says its new approach ensures that the beneficiaries of economic transformation initiatives are not confined to politically connected people of one race.