WORKABLE SOLUTIONS
Sovereign fund a solution to inequality and a catalyst for social cohesion
BEE deals ensure that power and wealth remains only in the hands of the elite
Creating an inclusive economy in SA has been undermined for centuries by a few self-serving individuals. Colonialists, broederbonders and now a small number of beneficiaries of the cynically named “broad-based” BEE (BBBEE) codes have continued the tradition of creating a few super-rich, with little or no benefit to the average South African, in general, and the historically disadvantaged sections of the population, in particular. It is difficult to justify the owners of BEE shares continuing to benefit from their clever schemes of laying their hands on assets they made no contribution to creating, while those who were exploited to create these assets are still living in poverty and going through waves of assault on their dignity with every change of the governing elite. In a global race to the bottom of having, SA is disastrously leading the way in inequality, with the worst Gini coefficient — the world standard of measuring disparities in wealth. The ANC’s policies have spectacular...
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