South African President Cyril Ramaphosa said he’ll appoint a council this week to advise on broad-based Black Economic Empowerment (BEE).
The body is being established because of inadequate progress in some measures of improving black involvement in the economy almost three decades after the end of apartheid, Ramaphosa said in his weekly letter to the nation on Monday.
Ramaphosa highlighted black management control, broadening procurement and skills development as areas that need attention.
“Economic transformation and economic growth are intertwined,” he said. “There cannot be one without the other.”