A code of good practice in black economic empowerment (BEE) is meant to guide stakeholders and not punish anyone, Minister of Trade and Industry Mandisi Mpahlwa said in Pretoria on Friday.
Mpahlwa was speaking to journalists after a meeting of the Black Business Working Group with President Thabo Mbeki at the Union Buildings.
”The codes are not meant to punish, but rather to facilitate the process of BEE and act as a guide to stakeholders,” the minister said.
Mpahlwa said the working group discussed the harmonisation of the codes with existing BEE charters, and with transactions under way and those that have already taken place.
He said the code is still in the public consultation phase and will probably be concluded by June.
The president of the Black Management Forum, Nolitha Fakude-Njoli, said the government has done exceptional work in ensuring women are represented in the public sector, and that more work has to be done to improve the status of women in the private sector.
Businessman Patrice Motsepe said the working group is ensuring that issues peculiar to black business are continuously discussed. — Sapa