South Africa’s broad-based black economic empowerment (BEE) strategy will be reviewed in 2013, says Minister of Trade and Industry Mandisi Mpahlwa.
Replying on Monday to Democratic Alliance trade spokesperson Enyinna Nkem-Abonta, the minister said the black economic advisory council established by the Broad-Based Black Economic Empowerment Act of 2003 will conduct a review and table recommendations to the president of South Africa and the minister of trade and industry on whether the codes of good practice “should be discontinued” at the end of the 10-year period.
Asked whether the government will discontinue discrimination policies at “some defined point in future”, the minister said: “The notion that government has instituted discriminatory laws is misguided. The South Africa Constitution outlaws discrimination and discriminatory policies, thus creating an environment where all South Africans are treated equally.
“The consequences of apartheid compelled the democratic government to introduce legislation and policies to facilitate economic equity and bring marginalised communities back into the mainstream economy, with BEE being one such policy.”
Asked whether his department will make any special provisions in the implementation of the codes “to encourage foreign investment and skilled immigration”, he said: “The codes have been developed taking into account the important aspect of attracting foreign direct investment.
“In order to ensure that the notion of attracting foreign direct investment remains intact, the Department of Trade and Industry will be issuing the codes dealing specifically with multinationals regarding ownership as part of the second phase of implementing the codes.
“Two codes, which will address the question of skills for the economy, including the workforce and employment equity, will also be released in the second phase of implementing the codes. These codes are designed to encourage skilled personnel to contribute to South Africa’s development while improving the overall skill level in the economy.” — I-Net Bridge