LETTER: Less BEE (which has failed), and more EED
Economic empowerment for the disadvantaged is what is needed and what will work
It is difficult not to agree with two Nedbank corporate finance analysts when they argue that broad-based BEE (B-BBEE) has “had limited success ... in terms of monetising value and transforming ownership to make historically disenfranchised people active participants in the economy” (Broad-based BEE needs tweaking to really work (https://www.businesslive.co.za/bd/opinion/2019-12-18-broad-based-bee-needs-tweaking-to-really-work/), December 18).
However, the conclusion reached by Zondi Nduli and Greg Rowan — that better, more clever and possibly more intense BEE is required — suggests they have not properly absorbed the lessons of their otherwise good analysis. Their argument is one observers of SA business encounter on an increasing scale and with increasing intensity as the failure of the BEE paradigm becomes apparent...
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