State capture and lack of political will has stalled progress in transforming the SA economy, says Finance Minister Enoch GodongwanaBlack professionals also need to consider why black management is associated with"failure and incompetence", says Godongwana.
Godongwana noted that transformation was not only an economic and political imperative, but a moral one too. There had been efforts to address economic marginalisation and promote black economic empowerment and employment equity, he said."Regrettably, however, since 2009, our progress has stalled particularly as a result of state capture and a lack of political will."
But Godongwana stressed that government was addressing the challenges to transformation through policies and legislation related to localisation, and the Preferential Procurement Policy Framework Act . The PPPFA incentivises government and businesses to work with BEE certified suppliers.certain aspects of the PPPFA are unlawful, as a setbackThe bill is with the National Economic Development and Labour Council and Treasury intends to table it before Parliament in June.
He added that black professionals also had to consider why black managers tended to be associated with"failure and incompetence".
Source: News Formal (newsformal.com)
Fin24 Evil system. After 30 years, still reverse apartheid? When will this end? Only the connected comrades are bennifiting from this, shame on you thieves...
Fin24 Unfortunately black transformation the anc's way got South Africa to this stage of criminality and incompetens, and poverty to the masses.
Fin24 Government ministers set the example, industry heeded the warning to survive
Fin24 That’s only because it still only benefits a handful, if you scrap it you’ll probably see more progress
Fin24 Bollocks, all that happened was the SOEs were now fully staffed by Cadres of the cANCer, and given the abysmal performance Bussiness fought back.
Fin24 The father of RET set black people back decades.
Fin24 Farewell economy!
Fin24 Yes because the people thet had to implement it couldn’t keep their hands out the cookie jar🤨
Fin24 You are lying Enoch
Fin24 🤣 We have a new excuse people, before it was apartheid, now it’s state capture
Fin24 Thanks to the ANC
Fin24 No no, that date is incorrect. It's actually 1 May 1994.
Fin24 Noted. Since 2009.and I doubt it is a function of the previous 'Lone eaters' but that of more hungry and qualifying mouths.
Fin24 Ja CR took all the nice BEE deals. There are no low hanging fruit to steal anymore. BEE creates an entirely culture rather than a let's do it culture.
Fin24 Awu. Was RET not in charge then?
Fin24 South Africa can kick start its economy by: 1- Remove all racist BBBEE laws 2- Remove all labour law red type 3- Reduce Company Income tax to 22%! Newzroom405 eNCA DStv403 PowerToTruth
Fin24 Well, show us ANY example of a government success story, except SARS🙄🤔
Fin24 Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Fin24 There has never been any progress since the days of the overrated Mandela. Only a few black elites lined up their pockets. Godongwana is just twerking from an empty head.
Fin24 Didnt have to promote economy when u can not work and just steal
Fin24 SA is being blackorised by these racist policies
Fin24 What items haven't stalled?
Fin24 It was a failed policy ab initio. One must incentivise not penalise.
Fin24 Where has Enoch Godongwana been since 2009, wasn't he MYANC Head of Economic Policy before becoming FM, and what was his role then to ensure that black people weren't screwed by becoming a 'face' of empowerment. To concur with HIM, ALL deals went to the Guptas & Co since 2009.
Fin24 Corruption has been extremely growing throughout the period
Fin24 I think he means progress on promoting BBE billionaires stalled.
Fin24 Indeed. Because the myanc is using BBBEE as a vehicle for looting and corruption.
Fin24 Minister history is judging the 2009 administration, I hope you understand that your time is also coming and history will judge you too. So far I have not seen that much change after the 2009 admin
Fin24 Because the economy the ANC are responsible for has stalled.
Fin24 Off course it did..
Fin24 Stop pushing water uphill. Step back and let us fix this.
Fin24 I wonder what happened in 2009...
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