We also have to admit that the “broad-based” part of BEE has seemed elusive. In the main, the story of black economic empowerment in the last 15 years has been a story dominated by a few individuals benefiting a lot.
The vast majority of those who are truly marginalised: women, rural poor, workers, the unemployed, and the youth have often stood have often stood at the sidelines. Only a few benefit again and again from the bounty of black economic empowerment.
This is a state of affairs that can no longer be tolerated. Broad-based economic empowerment should achieve exactly what it means. It should benefit all sectors of the target group.
This may mean that we look at black economic empowerment beyond business deals and shareholding in companies.
We have to think creatively about ways in which, to quote from the BBBEE Act, we can increase the extent to which communities, workers, cooperatives and other collective enterprises own and manage existing and new enterprises and increasing their access to economic activities, infrastructure and skills training.
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