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July 29, 2008

Reserve Bank snuffs growth, jobs and empowerment

The codes of good practice on black economic empowerment (BEE) have set a target of 25 percent for black ownership across the economy, to be achieved by 2017. However, the target will never be met without a wholesale review of monetary policy.

The policy needs to be aligned with the country's economic development objectives, which should include the achievement of an annual growth rate of at least 8 percent, full employment, a significantly lower level of inequality and the accumulation of capital by black people.

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Posted by StaffWriter at July 29, 2008 11:16 AM