Ramaphosa to appoint black economic empowerment advisory council

‘Economic transformation and economic growth are intertwined,’ he said. ‘There cannot be one without the other.’
Image: Bloomberg

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.

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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.”

© 2022 Bloomberg

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CR said “ Economic transformation and economic growth are intertwined”

cannot argue with that fact!

Nicely spotted … 😉

If race continues to be a defining factor of development and economics in SA, we are truly heading towards a failed state.

Indeed, with BEE we will never experience true growth, because it is based on RACE, not merit.
So in other words, more favouritism, cronyism and hardly an improvement in corruption.
But that’s what the frogboiler had in mind all the time.
He is simply too afraid, spine and gutless, for a truly, open, merit based economy and society.
Just as backward, narrow-minded, and shortsighted tribalist as his predecessor.
Maybe slightly less disingenuous and corrupt.
We definitely need a regime change in 2024.

The intertwining relationship is however inversely correlated.

And hereby another hotel visiting group is created for endless meetings, lunches and “working” dinners – obviously with free SAA flights !!!

End of comments.

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