Time to halt BEE - replace with "economic empowerment for the disadvantaged"

July 9, 2015

A comprehensive audit of black economic empowerment (BEE) ownership deals since 2001, recently compiled by Intellidex, a consultancy, shows that R317bn, free of debt, has been transferred to black South Africans by the top 100 companies listed on the Johannesburg Stock Exchange (JSE).

The overall value of these deals is, of course, very much higher - and was estimated at some R600bn in 2013. Yet, despite the high costs of what has already been done, the pressure on business for ever more BEE deals is relentless.

Read more....