BEE has enriched a connected few, not empowered the black majority
Phapano Phasha argues that BEE has benefited a politically connected elite rather than the wider black majority, and calls for a model centred on ownership, enterprise and economic agency.
Black Economic Empowerment (BEE) has enriched a select few in South Africa, rather than empowering the black majority, according to a new analysis. Thirty-two years of data show that 46 politically connected individuals pocketed 60% of all BEE mining deals, catapulting them into billionaire status. This system, designed to transform lives, instead reinforced elite access and resulted in a loss of R5 trillion in wealth since 2004.
The ANC defends the policy fiercely, accusing critics of opposing justice, but the reality is clear: a system that leaves millions out while a few profit is unjust. BEE has birthed a class of "tenderpreneurs" who thrive on political connections, leaving the majority disenfranchised. The policy's advocates, mostly ANC NEC leaders, have abused BBBEE for personal gain, using funds to buy luxury items and divert them to foreign economies.
The ANC's current leaders, far removed from their founders' vision of self-reliance and entrepreneurship, have replaced meritocracy with dependency, enterprise with entitlement, and agency with victimhood. The path forward requires rejecting BEE and social grants, as these policies reflect a philosophy that favors management and empowerment from above, rather than enabling individuals to build from within.
Written by urgent.news from IOL's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
