President Ramaphosa appoints new BBBEE advisory council

New appointees will serve a five-year period.
President Cyril Ramaphosa. Image: Jairus Mmutle/GCIS

President Cyril Ramaphosa has appointed a mix of business professionals, veterans and academics to serve on the Broad-Based Black Economic Empowerment Advisory Council, which will be tasked with assisting government with its economic transformation agenda.

The council, which will consist of 14 members, is formed in line with Section 6(1) (d) of the Broad-Based Black Economic Empowerment Act (Act No 53 of 2003).

Some of the notable appointments to the council include Competition Commission chief economist, James Hodge, as well as the Black Business Council’s CEO Kganki Matabane. The council appointees will serve for a period of five years.

“Provincial representation, sector expertise, gender and age are among the considerations that informed the composition of the Council,” the Presidency says in a statement issued on Wednesday.

“In line with the legislation that applies to the council, members are drawn from business, trade unions, community-based organisations and academia. They also have broad expertise in major sectors of the economy.”

Other members of the council include:

  1. Ms Gloria Serobe, a veteran of black business
  2. Dr Nthabiseng Moleko, an academic and specialist on industrial development funding
  3. Ms Sibongile Sambo, who operates a company in the aviation services sector
  4. Mr Sibusiso Maphatiane, an industrialist who runs his own metal foundry business
  5. Mr Ajay Lalu, a chartered accountant and B-BBEE specialist
  6. Ms Louise Thipe, a senior leader in the labour movement
  7. Ms Makale Ngwenya, a trade unionist and researcher
  8. Mr Kashif Wicomb, who leads the Progressive Professionals Forum (PPF)
  9. Dr Lulu Gwagwa, an academic, spatial development planner and businessperson
  10. Mr Thulani Tshefuta, who represents the community constituency and the youth movement at the National Economic Development and Labour Council (NEDLAC)
  11. Ms Khathu Lambani Makwela, a director of a company in the healthcare sector
  12. Ms Irene Dimakatso Morati, an internal auditor

“President Ramaphosa thanks the new members of the council for availing themselves to serve the country in this capacity and he wishes the council the best in advancing black economic empowerment as part of the comprehensive transformation of the South African economy,” the statement adds.

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Well, there’s a first!

Not only an economy decimated by BBEE but now a five years contract to ensure it. So by 2027 we should be well and truly in the same position as Zimbabwe where inflation is now 130%!

I wonder what the “compensation” packages are for these eminent individuals?

Ja — Bloody Brilliant Black Economic Executioners !!!!!!
Viva ANC — Amandla !!!!

Aloooota continua. Keep on destroying the economy with a failed race ideology. Let the poor and unemployed eat cake as long as the connected cadres get showered in easy money. The entitled elite will not rest until we have Zim v2.

This BBBBEE policy never worked, or only worked to enrich a relatively small number of well connected cadres.
It is not ” Broad Based”, it is elite, crony centered, all again now renewed by the frog boiler.
And in it’s essence: racist.
Time for these redressive policies have long come and gone.
Oh my dear, elections 2024 cannot arrive early enough.

End of comments.

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