Broad-based BEE needs tweaking to really work
There have been as many shortcomings as successes, and the reasons for failure can be identified
When the Broad-Based Black Economic Empowerment Act was promulgated in 2003 its primary intentions were to encourage and enable participation by black people in SA’s economy, drive structural change within the senior management of organisations and facilitate equitable ownership of those organisations.
While these were all noble intentions, it is important to reflect on the successes and failures of broad-based black economic empowerment (B-BBEE) deals. 25 years after SA’s first democratic election and 11 years after the publication of the first department of trade & industry codes, we explore the value B-BBEE investors have been able to realise and the tangible effects these deals have been able to deliver to the B-BBEE participants...
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