BEE Advisory Council mulls various new radical socioeconomic transformation proposals
The Black Economic Empowerment Advisory Council (BEEAC) on Tuesday convened a special meeting in Pretoria to unpack new proposals, that emerged from a prior meeting, to accelerate the council’s mandate and pursue radical socioeconomic transformation.
The workshop, convened by President Jacob Zuma, was aimed at scrutinising proposals to deal with the “systematic and structural implementation challenges” of the Broad-Based Black Economic Empowerment Act and engage on the proposed recommendations to realise government’s ambitions on radical socioeconomic transformation.
Trade and Industry Minister Dr Rob Davies, briefing the media prior to the workshop, said the proposals intended to strengthen empowerment in South Africa, improve the participation of the marginalised and apply the lessons learnt form preceding initiatives.
While details of the various proposals have not yet been released, with the council still mulling its options and ways forward post the workshop, Davies indicated that the council would work towards implementing various initiatives after securing Cabinet approval.
Davies noted that it was not a deliberate, decision-making meeting, but rather to engage ideas and gather information resulting in a clearer path forward.
Four focus areas would be used to forge a way forward to enable further opportunities to develop higher levels of inclusivity.
Following the meeting, Davies said procurement as a driver of black business and transformation emerged as a strong theme, with general agreement that procurement needed to be more carefully considered and crafted, with some suggestions that another approach be adopted that expanded the participation of black business.
A few undisclosed "anomalies" of the scorecard needed to be addressed.
Further, "access to equity" was on the agenda, with many businesses running low on capital and unable to get their heads above water.
There is a general consensus that a mechanism to provide increased access to equity is required; however, questions around how it will be structured and its firm role had been raised, indicating that further engagement is needed.
Within the workshop, implementation was also raised as an area that needed attention, with no adequate mechanism to monitor and correct the way in which institutions in government are implementing the BBBEE Act.
“All organs of State must as far as reasonable implement the BBBEE Act. There is inconsistency across the board in government,” Davies added.
He suggested there was a need for a more effective agency that was going to ensure implementation and facilitate the transfer of current good practices to other institutions.
“It is about better implementation of our policies,” Davies said.
In addition, the delegates proposed replicating, streamlining and coordinating elements of the Department of Trade and Industry’s Black Industrialist Programme into other sectors, such as construction, commercial farming and service sectors.
“This is still a work in progress and many details need to emerge,” Davies pointed out, noting, however, that he would like a timeline added to such initiatives to accelerate the country’s transformation ambitions.
The workshop was attended by members of the BEEAC, various Ministers and Deputy Ministers, senior government officials and representatives of State-owned enterprises, besides others.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation