BEE with President Zuma?
How will BEE look with Jacob Zuma as president of the ANC, and possibly South Africa?
The Zuma camp has been critical of the way BEE has been implemented. Even President Mbeki has complained about the slow pace of transformation, but has done nothing about it. Our article in 2006 explained why the pace BEE has been so slow.
We believe that more emphasis will be placed on BEE than ever before.
I don’t think the new leadership will place more emphasis on ownership than previously but will try to “enforce” the codes more. there will be a lot more talk about true empowerment, rather than enrichment.
We ourselves have been critical of the way that BEE has been implemented. (Government itself still refuses to follow the BEE codes – due in part to Treasury’s reluctance to change the PPPFA, and the very poor way that the dti has communicated what the codes really mean.)
We can only hope that the new leadership will recognise that there is nothing wrong with the concept, just that government itself is moving too slowly. We would hate to see a new set of codes or laws to implement BEE just because BEE has been moving slowly. However every company that fronts, everyone that rebels against implementing BEE, is going to add ammunition to the SACP (SA Communist Party). who are well represented in Zuma’s leadership to take what I would see as drastic action. (I like the free market, and would like to see as little government interference as possible, while recognising the ills that the previous system brought to South Africa. BEE’s aim is to redress those wrongs. It they are never properly redressed it will give an excuse to those in power to retain a controlled economy forever.)