[South Africa\COVID-19]
President Cyril Ramaphosa says that South Africa’s Black Economic Empowerment (BEE) regulations should be “enhanced” as part of a push to build a more inclusive economy in the wake of the country’s coronavirus crisis.
Photo: YouTube
President Cyril Ramaphosa says that South Africa’s Black Economic Empowerment (BEE) regulations should be “enhanced” as part of a push to build a more inclusive economy in the wake of the country’s coronavirus crisis.
In a virtual parliament on Thursday (18 June), Ramaphosa was asked by the Freedom Front Plus’ Pieter Groenewald how he plans to use the ‘golden opportunity’ of the coronavirus to restructure the economy.
“Don’t you think this a golden opportunity to get rid of BEE, get rid of affirmative action. You’ve asked the youth to get involved in building South Africa, does that include all of the youth?” Groenewald said.
In response, the president noted that while the coronavirus provides an opportunity to restructure parts of the economy, other measures need to remain and place and be strengthened – including Black Economic Empowerment (BEE).
“The Broad-Based Black Economic Empowerment policy thrust of this government, if anything, needs to be enhanced,” he said.
“We need to ensure that (Black South Africans) who were – under apartheid and colonial rule – excluded from playing an important role in the economy of their own country, be given their rightful position of playing an important role in the economy of their country. This is something that has to be done without any fail.”
Ramaphosa added that South Africa cannot continue to have an economy that excludes the majority of the people and believe that it can still grow the economy.
“Our economy is damaged because it is not utilising all of its resources. It’s like we have a vehicle with 12 cylinders but we have forever and a day been operating on four cylinders.”
Ramaphosa said that the only way this can be fixed is by bringing Black South Africans into the mainstream of the economy.
“Because they were deliberately excluded through laws, through policies, conventions and practices, we’ve got to ensure that we implement the provisions of our Constitution.
“The Constitution says that in order for us to obtain equality we have got to have legislative measures that will enable us to do precisely that. So BEE is here to stay.”
Ramaphosa said that Black South Africans have been patient for a long time. Instead of questioning these polices, he said that Groenewald should have instead presented solutions to addressing this imbalance.
“If we don’t change, it is those who have been excluded from the economy who are going to respond, and then all could be lost,” he said.
“What I would have wanted to hear from honourable Groenewald and those of his ilk is to come forward and say, ‘like many others are doing, we realise that we have a historic problem. Apartheid excluded the majority of South Africans… this is what we should do.”
For the rest of this Business Tech story log on to: https://businesstech.co.za/news/business/408979/ramaphosa-says-south-africa-should-use-the-coronavirus-pandemic-to-strengthen-bee/
