OPINIONISTA: BEE inadvertently became ‘prime enabler of State Capture and corruption’ in South Africa

It cannot be gainsaid that urgent economic redress of the previously disenfranchised majority was one of the government’s most pressing priorities post-1994 and it was for this reason that a raft of BEE legislation was promulgated with the intention of delivering real economic empowerment to the masses.

The “early day” major empowerment deals involving listed companies and politically connected individuals; The scene was set for a future cohort of politically connected individuals who now wished to emulate those who had already feasted at the JSE-approved table – the only problem was that the financial crisis of 2008 had effectively dried up the well for further listed empowerment deals which then led to the cruder form of empowerment best illustrated by the Bosasa- and Gupta-type modus operandi for which our politicians and business leaders now feign shock and indignation.

A perfect example is Eskom where experienced engineers and senior management were let go in an uncontrolled fashion to be replaced by individuals who oiled the wheels of procurement corruption through their active participation in illicit schemes.

Exactly what Dr IOL Survey has been saying all along

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