New BEE codes will not stifle growth, Committee hears
The Select Committee on Trade and International Relations has welcomed the assurance from the Department of Trade and Industry (Dti) that the new BEE codes will not stifle economic growth.
The Chairperson of the Committee, Mr Eddie Makue, said it appeared that the new codes were a necessity and needed to ensure radical transformation of the economy. “We want to see economic development benefiting the people and Dti needs to prove that this is happening. The country should be far ahead on reducing inequality had implementation of the policy been better enforced and monitored,” Mr Makue said. He added: “The Committee also welcomes the assurance that the smaller entrepreneurs will not suffer as a result of the new codes, but also that the bigger businesses need not regard BEE as a burden.”
Dti came to brief the Committee on the Broad-Based Black Economic Empowerment (B-BBEE) Codes and implementation of the B-BBEE Act. The Department revealed that establishing a BEE Commission that will, among others, investigate fronting and complaints from intended beneficiaries, is at an advanced stage.
Mr Makue said BEE should not only be about transactions but also contributing to skills development in line with other government economic policies. “BEE should not be a benefit scheme but an empowering tool and should be aligned to other government policies that seek to address challenges faced by the broader population,” he said. He said it was incorrect for some people to push the wrong narrative of portraying BEE as anti-white or anti-investors because BEE was a method government used to make sure economic redress is happening.
Enquiries:
Sibongile Maputi
Tel: 021 403 8041
Cell: 081 052 6060
E-mail: smaputi@parliament.gov.za
