If I didn't understand the BEE framework as much as I do now, then I would tend to agree with you.
But I have to disagree. Apartheid left black people (black in the sense of non-white) with little capital. When democracy arrived, they were not able to take advantage of it because they had no capital to invest in the first place. What you then have is 10% of the population contributing towards the country's GDP. This effectively meant that our country was operating at 10% of it's potential.
If we were to grow and realise our full potential, there is no question that it was essential to get the non-white population involved. Most people don't realise that you don't have to be black owned to be BEE compliant. Companies with less than R5 mil turnover are automatically BEE compliant. And larger companies improve their BEE profile by doing business with smaller companies.
EE is just one aspect of BEE, and in most instances it doesn't even apply. It was put in place to expand on the narrow-based approach of black ownership being the sole requirement for BEE compliancy, as most people just sold shares to their wives to meet the requirement.
I may not be 100% accurate in my understanding, so somebody with more knowledge on the matter is free to correct me