Is BEE holding back South Africa’s growth?

[Quicks]

Is BEE holding back South Africa’s growth?

Terence Corrigan writes on the concept of Black Economic Empowerment (BEE) in South Africa. Journalist Stephen Grootes suggested that unless the country achieve

www.biznews.com

 

[Hemi300c]

It's holding back SA in all aspects and is criminal and racist.

 

[Quicks]

Interesting read, but nothing we do not already know.

 

[Pegging]

No. We need much more BEE. When. the economy is destroyed then we can easily grow by 5% because we start off a really low base.

 

[Gone Fishing]

Yes - racial preference has to be scrapped but there still needs to be some form of upliftment program for the less fortuante as nobody is ever going to get by if people hoard capital.

 

[buchanan8]

No way. We must double down on BEE - it's been working really well.

 

[Jam Sandwich]

Privilege...

 

[rvZA]

Reversed Apartheid. This Apartheid government failed. The previous Apartheid government at least made a success of the economy and country for everyone.

 

[Brawler]

The problem is WMC so yes, more BEE.
Success stories include Eskom, SAPA and Transnet.

 

[Herr der Verboten]

Is BEE holding back South Africa’s growth?

Terence Corrigan writes on the concept of Black Economic Empowerment (BEE) in South Africa. Journalist Stephen Grootes suggested that unless the country achieve

www.biznews.com

Do you like stupid questions?
[ ] Yes
[ ] Yes
[ ] Yes

 

[McRuder]

Different ideologies have held human development and innovation back for thousands of years. BEE is not the first, nor the last. Conservative estimates are that we are around 10000 years behind where we should have been. I would add 25 years for AA and BEE.

 

[porchrat]

Of course it is.

It's generally just a tool for the politically connected and otherwise inept to score massive amounts of money for doing nothing.

 

[Corelli]

No BEE doesnt, but only if its done fairly. But it doesnt happen fairly.

But dont worry, everything is being outsourced to India. Just look at how many of our finance companies has brought in Indian workers to replace local South Africans. And then ironically classifying them not as foreigners but as local BEE candidates. (All to achieve their targets).

And no offence to the Indians. They work hard, and deserve it, but you have to ask the big SA companies that should be prioritizing local workers why this is happening?

 

[chrisc]

Its another form of corruption. Said that from day one

 

[dualmeister]

You cannot even quote on some Government tenders unless you are a Level 1 BEE.
Tenderpreneur's are selling products that they know nothing about and cannot support. And the Government is overpaying for these products with tax payers money. I've seen up to 240% marks.
How is this right?

 

[Temujin]

Obviously the problem is we need more of it to get it to work

 

[Corelli]

If you are a white South African, unless you have your own company....the best thing you can do is leave.

There are only about 3 million left in SA. That number is starting to shrink by about 150 000 a year. Do not be confused about many of the properties in Cape Town owned by foreigners.

 

[Jet-Fighter7700]

BEE is racism with a Pretty face, and a legit sounding objective,
so nobody can complain.

 

[Vorastra]

Guys, what if BEE is removed and nothing improves because everyone is already tired of our sht.

 

[Quicks]

Guys, what if BEE is removed and nothing improves because everyone is already tired of our sht.

I think it already happening, even though they remove it now, we have other issues.

- Electricity
- High crime / Gangsters

Just those two is enough for investors to say, no thanks. But we can easily list 10 reasons not to invest SA. But we know how that goes if there is opportunity people will take it. But it will have to start with dropping BEE. Which probably will never happen.