The year 2024 has interestingly seen South Africa moving into a direction that wasn’t anticipated in the chatter of 30 years of democracy which resulted in the GNU (Government of National Unity). This has equally brought an advancement of a new era to evidently witness parties involved in the GNU to collaborate with members of other parties based on trust and mutual understanding for the betterment of a progressive nation’ outcome. On the 19th of June 2024 during the inauguration address with President Ramaphosa, he voiced out the GNU to be the beginning of a new era that requires a common mission anchored in safeguarding national unity, peace, stability, inclusive economic growth, non-racialism and non-sexism. It is through this historical and crucial period that reviewing policies and legislations that drives a thriving economy are inevitable. And in this sense, we are speaking of the B-BBEE (Broad-Based Black Economic Empowerment) Act that has played a vital role in reshaping the future of our economy coming to terms of economic inclusivity as a framework known to be the cornerstone of transformation in our country. The Black Management Forum as a leading structure that has been actively involved in establishing the B-BBEE still reckons the fundamental principles and enhancement of the Act to be prioritized. There have been many questions of whether the B-BBEE remains relevant and has delivered according to its promises, however, the undeniable truth is that there have been unintended consequences, but they do not override the aspects of B-BBEE as an empowering vehicle to drive the change that South Africa desperately needs.
The landscape of B-BBEE focuses on skills development and procurements which are solutions addressing the major societal issues such as unemployment, poverty and inequality. It is through the B-BBEE that there is an enforcement of good practices in businesses whereby the mindsets of others that have not yet been instilled with the good governance of B-BBEE must then adhere to its importance especially concerning those who are still ignorant about the past and its repercussions towards the black community. The GNU is here to also expose loopholes of whether the parties understand the mandate of unity and the power that comes with leadership for all the respective parties in correspondence with the will of enhancing the spirit of servitude or it is about dwarfing the liberation of our society by prolonging the right leadership and management of resources and activities to enable the South African economy operations for its growth.
As the Black Management Forum, we regard the changes as an opportunity to strengthen transformation and continue with the B-BBEE system as an effective channel that equips people for growth and to hold businesses accountable in their lack of good governance. The Black Management Forum will also like to acknowledge the additional incentives and potential firms to improve corporate participation and curb exploitation of the system by the Black Economic Empowerment Commission. We would like to see those involved in fronting convicted since there has been 1348 complaints received since 2017 and no one had yet been convicted, this is a statement that has been made by Tshediso Matona who is the head of Broad-Based Black Economic Empowerment Commission.
In all the actions encompassed by B-BBEE, moving forward we call for an intensive monitoring of this framework without compromising any of its aspects. We need to see more of the black community not limping from the disadvantages of the minority rule, the governance of businesses strictly complying with the B-BBEE and if not meeting any of the essential criteria of good practice – such shall be met with none partial repercussions, the activities of fronting which has become a norm shall be destabilized by all means and many shall be brought forth to account for their deeds by law. And any organization or structure that stands against the B-BBEE shall be rendered as amongst the barriers and upheld as insensitive towards the issues of the vulnerable society that needs to be heard and seen for the struggles that they have endured for the longest time.
The Black Management Forum supports all good indicators for when it comes to the Legal Sector Code to advance B-BBEE transformation which speaks to black-owned businesses, black female owned businesses, youth and disabled owned businesses including the small-medium enterprises. The Black Management Forum understands the on-going conversations around the B-BBEE by different sectors that drives the economy to which some of them may think the scrapping of this Act will determine a better outcome, however, we stand against such misguided tales which we sincerely believe that others may not comprehend fully the essence of the Broad-Based Black Economic Empowerment especially if it is to be diligently enforced and reviewed with the basis of eliminating open channels that allows the misconception and misuse of this Act. As South Africans, Black Management Forum insists that united we stand and divided we fall.
About the Author
Boipelo Letlape is currently a Deputy Chair of the Policy and Research committee of the Black Management Forum. She is an alumni of United Nations Development programme with United Nations Institute. She is a graduate from Boston Media House in Media practices with specialization in Public Relations.
