Presidency doubles down on BEE in South Africa

Lol...

These are 23.1 million black South Africans who remain outside of the fruits of the economic prosperity. A typical black African worker earns R5,200 a month, and the typical white worker earns R25,000, she said
 
"...BEE is working".

Then explain our dismal economic growth rate and record unemployment.

"...the Youth Employment Service, created under the B-BBEE framework, some 240,000 young people have been given a full year of paid work".

+60% of youth are still unemployed. It has had zero impact.

"The Minister stressed that B-BBEE is not a precondition for investing in South Africa"

Tell that to Starlink.

"Multinationals whose policies, on the proof thereof, do not allow them to sell local equity can comply through EEIPs."

Yes, it's a sanitised way to solicit bribes by investing in connected cadres.

“Non-discrimination is a principle we hold to. Every investor plays by the same rules in our country, wherever they come from,” she said."

Then explain how Sector Codes dictating specific percentages of each race allowed in a company are not discrimination.

"There is also flexibility across sectors of the economy, with each sector having a set of Sector Codes governed by a charter council that negotiates its flexibilities within agreed-upon frameworks applicable to that respective sector."

Yes, in some sectors you can have as many as 20% white employees, 3% or less in others. Very flexible.

"She added that South Africa determines its domestic policy in the best interests of its citizens."

It objectively does not.

"B-BBEE ensures that growth is shared, and that is what makes it sustainable..."

Yeah, shared with the ANC.
 
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The greater the scarcity, the greater the market value.

Labour is anything but scarce in ZA.

Keep churning out cheap labour in abundance and it will remain cheap. We have around 1mill people entering a rapidly shrinking job market every year and we imagine this BEEEEEEE idiocy is going to magically fix shiat?

Talk about being utterly divorced from reality. cANCer gonna cANCer
 
Jam Sandwich said:
Lol...

These are 23.1 million black South Africans who remain outside of the fruits of the economic prosperity. A typical black African worker earns R5,200 a month, and the typical white worker earns R25,000, she said
Click to expand...
Figure that if at the age of 20 plus you cannot read or write then that is on you, not us. She also doesn't know much about salaries, the average white earns around R8000,00 a month, nowhere near her imaginary R25000,00 figure. I know middle management who do not earn that much. Edit: Just issued a circular in all official languages, vast majority couldn't read their own languages, and a fair number needed us to tell them what it said in English.
 
elon-musk-smoke.gif
 
Did we expect anything else?

Its like asking people would they do away with getting free money for doing nothing lol.
 
At this point the ANC is like an idiot trying to put out a fire with petrol. Everyone is shouting at them that it's making it worse but they just point at the house and scream "But it's still burning" and carry on dumping petrol on it.
 
You cant make a quick buck for free if you're not in a position to do so.
Scrapping all these ridiculous requirements puts a lot of cadres out in the cold with no real skill set or value proposition to offer.
Nothing to do with the poor, everything to do with grossly enriching a small percentage with minimal work or contribution.
 
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