This year marks the second anniversary of the broad-based black economic empowerment (BBBEE) framework. Over 24 months the framework has far exceeded the objective of redefining BEE in practical terms.
There is general consensus that substantial progress has been made to advance empowerment in the country. However, we must continue to build on this foundation.
In this respect, decisive institutional mechanisms have already been put in place to facilitate and ensure the smooth implementation of BBBEE. This is a critical phase, and as such, it is the mandate of the department of trade & industry (DTI), in collaboration with government departments, businesses, and other key stakeholders, to ensure that issues that seek to hinder the effective implementation of BBBEE are addressed and countered.
Of priority are areas that pertain to the harmonisation of policies and standards in public-sector procurement; streamlining the granting of business licences; and creating a credible and regulated environment for measuring, monitoring and evaluating compliance with BBBEE criteria. In so doing, government aspires to create a socioeconomic environment that further facilitates access to opportunities and markets for small black and black women-owned businesses and programmes, and supports and alleviates burdens on small, medium and micro enterprises (SMMEs).
Government incentives seek to address sector-specific challenges, and BBBEE is no exception to the rule. For broad-based empowerment to function efficiently and effectively, it has to be incorporated in a balanced manner to enable the creation of sustainable businesses.
As BBBEE is about inclusiveness and good governance, peer learning and active private-sector engagements become paramount to leverage resources for effective delivery. We further require strategically focused advocacy and robust dynamic partnerships. The efforts that have been made by the private sector to embrace and implement BBBEE are commendable, and they need to forge ahead.
As we endeavour to create broad-based growth, our economy should reflect the ideals of optimal job creation, skills development, employment equity, socioeconomic development, preferential procurement and enterprise development. Transforming the economy within 14 years has been a mammoth task for government.
In spite of the challenges, we have overcome these impediments and made great strides over the past few years. Now is not the time to seek ways to dismantle what has taken years to conceptualise and design, in terms of the current framework. Rather, this is the time for focused thinking, thought leadership and collective action, in order to give effect to the principles and objectives encapsulated in the Freedom Charter.
We need to ensure that the positive evolution of BBBEE shapes the future of all South Africans.
Nomonde Mesatywa is the chief director for BEE in the DTI
