BEE in danger of extinction

[DigitalSoldier]

http://www.fin24.co.za/articles/eco...px?Nav=ns&lvl2=econ&ArticleID=1518-25_2025635

Johannesburg - Black economic empowerment (BEE) is in danger of becoming extinct if the government goes ahead with its plans to introduce the "once-empowered, always-empowered" principle.


afaik Cyril Ramaposa asked so the law can be changed like this

 

[BradDC]

hmmm... Im afraid BEE only allows a certain select group of black people to benefit, why dont they take the money set for BEE and invest it directly into the townships?

 

[surface]

hmmm... Im afraid BEE only allows a certain select group of black people to benefit, why dont they take the money set for BEE and invest it directly into the townships?

I am sure it is already being done but somehow it doesnt figure prominently in news.

For example, Mvelaphanda group headed by Tokyo Sexwale has donated to the tune of 70-million rand to Non-governmental organizations, cant find the link though.

 

[icyrus]

This quote is interesting:

"We need to be very careful with the 'once-empowered, always-empowered' principle. In its implementation, care should be given because this could result in the economy remaining in white hands," Vundla said.

So it really isn't about empowering the previously disadvantaged, is about not letting whites control the economy.

I look forward to the day when SA can get past this constant small-minded racism.

 

[icyrus]

I am sure it is already being done but somehow it doesnt figure prominently in news.

For example, Mvelaphanda group headed by Tokyo Sexwale has donated to the tune of 70-million rand to Non-governmental organizations, cant find the link though.

To who and how was that money then spent?

Lets be honest - small charity aside - how has BEE improved the life of the average "previously disadvantaged" who doesn't have political connections. It seems all it is good for is sowing racial divides and getting Tokyo onto the board of hundreds of companies.

 

[telkomsuig]

think this is a very good idea.... companies can;t keep on empowering people and essetially give away free money. Once empowered always empowered is a good policy in my book...

 

[dlk001]

I think its a positive idea too. BEE has evolved a lot over the years and this is another positive step towards Broad Base Socio Economic Empowerment.

 

[surface]

To who and how was that money then spent?

Lets be honest - small charity aside - how has BEE improved the life of the average "previously disadvantaged" who doesn't have political connections. It seems all it is good for is sowing racial divides and getting Tokyo onto the board of hundreds of companies.

http://www.miningweekly.co.za/min/features/black/?show=34230

icyrus, there are no easy answers for your questions but effective utilisation & results of charity are hard to assess. I will give you 2 examples

1) Bill & belinda gates foundation has pumped billions of dollars into africa continent for fighting HIV and many question that most of the money goes into african 'dictators' and not utilised properly.

2) Mother teresa Mission was claimed to have received billions of dollars for her mission in India but there are still people who believe that "Many more people are poor and sick because of the life of MT. Even more will be poor and sick if her example is followed. She was a fanatic, a fundamentalist and a fraud"

http://www.theage.com.au/articles/2003/10/22/1066631499641.html?from=storyrhs

 

[icyrus]

http://www.miningweekly.co.za/min/features/black/?show=34230

icyrus, there are no easy answers for your questions but effective utilisation & results of charity are hard to assess. I will give you 2 examples

1) Bill & belinda gates foundation has pumped billions of dollars into africa continent for fighting HIV and many question that most of the money goes into african 'dictators' and not utilised properly.

2) Mother teresa Mission was claimed to have received billions of dollars for her mission in India but there are still people who believe that "Many more people are poor and sick because of the life of MT. Even more will be poor and sick if her example is followed. She was a fanatic, a fundamentalist and a fraud"

http://www.theage.com.au/articles/2003/10/22/1066631499641.html?from=storyrhs

I understand, I guess my point was that if the purpose of BEE was to help the majority of disadvantaged people by small acts of charity by the people who have now been made billionaires for being black and connected... well then it is worse than a joke.

 

[Jongi]

BEE can hardly be said to have helped many who do not have connections. As for the masses, not at all. Maybe if the BEE winners have helped implement better working conditions there may be a case.

 

[DigitalSoldier]

think this is a very good idea.... companies can;t keep on empowering people and essetially give away free money. Once empowered always empowered is a good policy in my book...

Very good idea and not to bring race into the issue but like I said Cyril Ramaposa a black person wanted this policy introduced.