Rescue team estimates 3 or 4 days to rescue trapped miners at Orkney mine
Business
B-BBEE needs to be accelerated
The President says the playing field for black business people must be accelerated.
JOHANNESBURG - President Jacob Zuma says if the South African business community is unable to level the playing field for black business people by 2030, an assessment of transformation will have to be done.
Zuma addressed delegates during the South African Broad-Based Black Economic Empowerment (B-BBEE) summit currently taking place in Midrand.
He said nearly 20 years after democracy, the ownership ratio between white and black businesses hadn't changed much and the transformation of the economy needed to be accelerated.
"We must reach our destination within a short space of time. Next year, we are celebrating 20 years of freedom and democracy. There would be something wrong with us if we celebrate 30 years having not reached our destination. Then we would need someone to examine us as South Africans."
Meanwhile, Trade and Industry Minister Rob Davies says B-BBEE is essential for the growth of South Africa's economy.
Davies announced changes to the triple amendment bill during the summit.
He said exclusion of the majority of South African entrepreneurs from the business community would slow down growth.
"Our economy and our prospects for inclusive growth are going to be hobbled if we are only drawing economic leadership from a very small minority of our population."
More in Local
-
Rescue team estimates 3 or 4 days to rescue trapped miners at Orkney mine
-
Justice Project SA withdraws endorsement of ‘blue light protocol’
-
Search for Cape Town Train Station arsonists continues
-
Taxi violence: MEC Mazibuko calls on law enforcement to ensure residents’ safety
-
Load shedding puts strain on City Power system
-
Delft teens shot – boy (16) dies, girl (13) injured
Comments
EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.
comments powered by DisqusHowever, we will NOT condone the following:
- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.
We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.
We strive to make the EWN community a safe and welcoming space for all.
EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.
Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.
EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.