Page 18 of 18 FirstFirst ... 8161718
Results 171 to 178 of 178

Thread: BBBEE wrong

  1. #171
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Location
    Durban
    Posts
    3,915
    Thanks
    721
    Thanked 840 Times in 694 Posts
    Blog Entries
    6
    What would have happened if Moeletsi Mbeki instead of his brother became president of South Africa?
    I have the greatest respect for this man. His analysis of our financial and political environment was spot-on and we are now experiencing what he predicted 10 years ago. If you have not read his article posted in the previous thread, I urge you to do it now.
    Excellence is not a skill; its an attitude...

  2. #172
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Location
    Durban
    Posts
    3,915
    Thanks
    721
    Thanked 840 Times in 694 Posts
    Blog Entries
    6
    So the (unfortunate) prediction made by Moeletsi Mbeki in 2011 was right on the button. If you have not read his book yet, do it now.

    South Africa: Only a matter of time before the bomb explodes
    by Moeletsi Mbeki: Author, political commentator and entrepreneur.

    The country is basically bankrupt and state coffers are empty. The tax base is shrinking. It is reported that about 73% of the R529bn in personal income tax collected in 2019 was paid by a mere 529 230 individual taxpayers, many of whom are skilled, mobile and likely to emigrate as services deteriorate. That is the reason why the ANC is now looking at other sources of income; land expropriation without compensation, NHI (to take money from the medical aids), prescribed assets: compulsory investments in state entities by pension and investment funds. Several state-owned enterprises – think Eskom, SAA and the SABC as the most topical examples – have required inordinate amounts of money from the government to stay afloat, and the SA Revenue Service seems to be lagging on its tax collection targets.

    Blatant Elite Enrichment, also known as BEE, has ruined South Africa by enabling corruption and elitism. I am all for black entrepreneurs being successful and for black managers to be recognized and advanced. However, no entrepreneur, not qualified in racial terms, will risk investing in a new business (creating jobs) where there is so much uncertainty and where he/she is not in control of the business that they have started.

    The ANC's racist policies have rather encouraged the people with knowledge or the means to start a business to emigrate and to look elsewhere. Imagine if Elon Musk had started his business in South Africa!
    Excellence is not a skill; its an attitude...

  3. #173
    Platinum Member Marq's Avatar
    Join Date
    May 2006
    Posts
    1,297
    Thanks
    73
    Thanked 283 Times in 216 Posts
    More like an implosion rather than a bomb explosion.
    The cost of living hasn't affected its popularity.
    Sponsored By: http://www.honeycombhouse.com

  4. #174
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Location
    Durban
    Posts
    3,915
    Thanks
    721
    Thanked 840 Times in 694 Posts
    Blog Entries
    6

    Blatant Elite Enrichment

    In an article by Anthea Jeffrey, she comments that the SACP/ANC alliance is committed to a national democratic revolution (NDR) aimed at so crippling the capitalist economy that South Africa can in time be pushed into socialism and then a communist nirvana. Its many NDR interventions are the main reason why poverty and inequality have increased so greatly since 1994 – and especially within the black population.

    Much of the fault lies with the race-based employment equity and black economic empowerment rules that enrich a narrow and politically connected elite while impoverishing and greatly harming the black majority.

    These rules, along with the destructive cadre deployment and tenderpreneurship they have spawned, have spread dysfunctionality across the public service, triggered the collapse of many municipalities, crippled Eskom and other SOEs, facilitated corruption way beyond ‘Zupta’ state capture, prompted an exodus of capital and skills, reduced growth to rates far below those in other emerging markets, and increased the number of jobless black people (on the expanded definition) from 3.2 million in 1994 to 10.3 million today.

    Credentialed group (Blatant Elite Enrichment)

    Like other race-based rules across the world, South Africa’s policies benefit only the most skilled and credentialed group, which comprises roughly 15% of the black population. By contrast, the remaining 85% of black South Africans have little prospect of ever gaining access to BEE deals, management posts, or preferential tenders at inflated prices. They are, however, continually harmed by all the adverse consequences of these rules.
    Excellence is not a skill; its an attitude...

  5. #175
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Location
    Durban
    Posts
    3,915
    Thanks
    721
    Thanked 840 Times in 694 Posts
    Blog Entries
    6

    Pepuda Bill

    Telkom CEO Sipho Maseko recently spoke about how BEE can actually be harmful to local businesses and noted just how easy it is to get around loopholes, that end up harming local businesses and the economy.

    This unfair practice of discrimination against minorities may however come to an end as the ANC government is updating the Promotion of Equality and Prevention of Unfair Discrimination Act, colloquially referred to as Pepuda. The scope of the Pepuda Bill proposes to prohibit not just unfair, intentional discrimination that is related to 18 listed criteria, but even discrimination which is fair or unintentional. The Bill demands the “elimination” of all discrimination – irrespective of whether it is fair or unfair – as part of the general obligation to promote equality.

    The Pepuda Bill runs counter to long-standing ANC policy on race, whereby “Race-based black economic empowerment (BEE), employment equity, and preferential policies will no longer be treated as examples of ‘fair’ discrimination. Instead, all these policies will have to terminated in keeping with the general obligation to promote equality by ‘eliminating discrimination’.”
    Excellence is not a skill; its an attitude...

  6. #176
    Diamond Member Justloadit's Avatar
    Join Date
    Nov 2010
    Location
    Johannesburg
    Posts
    3,050
    Thanks
    116
    Thanked 627 Times in 533 Posts
    Blog Entries
    1
    And if it is like any of the elite court actions, it will take years before actually happening.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za

  7. #177
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Location
    Durban
    Posts
    3,915
    Thanks
    721
    Thanked 840 Times in 694 Posts
    Blog Entries
    6
    Quote Originally Posted by Justloadit View Post
    And if it is like any of the elite court actions, it will take years before actually happening.
    Agreed, the dysfunctional government has lost all credibility. The acting Secretary General actually declaring that they love the man who bought South Africa to its knees by facilitating state capture, stealing trillions and then disrespecting the judiciary with contempt of court. This is scandalous and he should actually be tried for treason as an enemy of the people.
    Excellence is not a skill; its an attitude...

  8. #178
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Location
    Durban
    Posts
    3,915
    Thanks
    721
    Thanked 840 Times in 694 Posts
    Blog Entries
    6
    The IRR released a statement yesterday has tabled three proposals that it believes would quickly revive the economy.
    These proposals are:

    • Protect property rights;

    • End all race-based policies; and

    • Implement Economic Empowerment for the Disadvantaged.

    The statement said: “…instead of race-based policies, South Africa must implement an effective, non-racial empowerment policy. Our proposal, Economic Empowerment for the Disadvantaged (EED), would give businesses an incentive to grow and create jobs, while also empowering those South Africans who most need it and putting an end to the perpetual enrichment of a greedy elite.”

    https://dailyfriend.co.za/2021/07/20...avetheeconomy/
    Excellence is not a skill; its an attitude...

Page 18 of 18 FirstFirst ... 8161718

Similar Threads

  1. SCRAP BBBEE
    By wynn in forum BEE and Employment Equity Forum
    Replies: 3
    Last Post: 05-Feb-13, 02:22 PM
  2. Interesting angle on BBBEE
    By wynn in forum BEE and Employment Equity Forum
    Replies: 10
    Last Post: 12-Aug-12, 01:34 PM
  3. How much is your BBBEE and EE costing?
    By sterne.law@gmail.com in forum BEE and Employment Equity Forum
    Replies: 1
    Last Post: 26-Mar-10, 04:33 PM
  4. Book comment-BBBee
    By sterne.law@gmail.com in forum Book Forum
    Replies: 0
    Last Post: 12-Nov-09, 12:38 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •