Watch – Are the IMF and World Bank pointing fingers at BEE?

Thanks for that short and sweet report Rebecca. Shorly the TOTAL COST OF MAINTAINING BEE is, in itself, a huge handicap on the total South African economy? What is the total cost? Does anybody actually know?

From the WB report: “South African policymakers have attempted (. .) to correct market or historical failures by intervening through hard regulations, such as Black Empowerment policies (. .) Today, the interventions have become so cumbersome that they smother the implementation capacity of the public administration (. .) and open spaces for corruption. It has been well documented that state capture left an enduring mark on South Africa’s institutions.” Pretty clear I would say.

Many South Africans are sympathetic to the plight of the unemployed. It is clear that BBBEE's current form & manner of practice is not achieving its (broad) goal. Only a few (connected) reap the benefits, at the expense of the majority - the youth sector. It really does not matter where 'concentrated ownership of the economy sits, be it Black, White, or in between, if the majority of the youth don't benefit due to a low skills base & the economy does not grow? Drastically change or scrap it.