DA SAYS BEE MODEL OF REDRESS NOT WORKING
EWN / 29 FEBRUARY 2020 - 17.57 / BABALO NDENZE
The party released its draft Economic Justice Policy on Friday, which will be discussed at a policy conference on 4 and 5 April.
CAPE TOWN - A Democratic Alliance (DA) policy document has found the trickledown effect of black economic empowerment (BEE) has been a huge failure.
DA head of policy Gwen Ngwenya and other party members at a briefing on 28 February 2020.
The party released its draft economic justice policy on Friday, which will be discussed at a policy conference on 4 and 5 April.
The policy targets the vulnerable in society as opposed to elites.
DA head of policy Gwen Ngwenya said the BEE model of redress had clearly not worked and their policy called for a more bottom-up approach.
She said the draft economic justice policy was a response to the increasing economic exclusion experienced by most South Africans.
“BEE embodies a system of trickledown redress, which is an idea that if your transfer assets, positions or contracts from one elite to another, this will lead to broad-based prosperity. This model has clearly not worked.”
But Ngwenya has emphasised the policy approach was based on need and disadvantage as opposed to race.
The party will now discuss the policy in more detail when members gather for a policy conference in April.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER