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South Africa’s Ramaphosa to appoint black economic empowerment advisory council
5:26 CAT | 30 May 2022
File photo: GCIS
- Economic transformation and economic growth are intertwined,’ he said. ‘There cannot be one without the other.’
South African President Cyril Ramaphosa said he’ll appoint a council this week to advise on broad-based Black Economic Empowerment (BEE).
The body is being established because of inadequate progress in some measures of improving black involvement in the economy almost three decades after the end of apartheid, Ramaphosa said in his weekly letter to the nation on Monday.
Ramaphosa highlighted black management control, broadening procurement and skills development as areas that need attention.
“Economic transformation and economic growth are intertwined,” he said. “There cannot be one without the other.”
Last week a landmark broad-based black economic empowerment transaction was concluded in the Eastern Cape that significantly improves the participation of black women-owned businesses in the energy sector. https://t.co/J5fIbGpz9C pic.twitter.com/esT1A6WyiR
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) May 30, 2022
Source: Bloomberg
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