BUSINESS COMMUNITY SHOULD TAKE A FIRM STAND AGAINST ANC’S PROPOSED R100 BILLION BEE FUND
- BEE NEWS
- Jan 29
- 2 min read
Jaco Mulder | 28 January 2026
The Freedom Front Plus (VF Plus) calls on business leaders and investors to take a firm stand against the R100 billion BEE fund proposed by the ANC Minister of Trade, Industry and Competition, Parks Tau.
The original aim of Broad-based Black Economic Empowerment (B-BBEE) – to economically empower black South Africans – has not been achieved.
Under ANC rule, the system was exploited to enrich a small group of billionaires while the broader public has grown even poorer.
Professor William Gumede of Wits University recently confirmed that B-BBEE has mainly promoted elite enrichment, with minimal impact on job creation, skills development and sustainable growth. The policy has deepened inequality rather than alleviating it.
Meanwhile, extensive corruption and state capture have siphoned hundreds of billions of rand off the fiscus. Consequently, the economy keeps shrinking, unemployment keeps climbing despite reaching record-high levels, service delivery is collapsing and infrastructure is crumbling.
Now that same ANC has announced yet another R100 billion BEE fund, proposing that companies contribute 3% of their net profit to a so-called “transformation fund”.
In return, companies would receive double points on their B-BBEE scorecard, providing better access to state and corporate procurement.
A board appointed by the Minister will be tasked with managing the fund – a recipe for political interference and corruption.
The Department could not even manage the National Lotteries Commission properly, as large-scale maladministration and corruption came to light.
The Department is also wholly to blame for the closure of the 51-year-old British American Tobacco factory in Heidelberg at the end of 2026, with the consequent loss of approximately 1 000 jobs.
Its inability to curb tobacco smuggling has allowed the underworld to dominate the industry, not only destroying the legitimate market, but also causing losses amounting to billions in excise duty.
The Freedom Front Plus is the only political party that has condemned B-BBEE from day one, precisely because it benefits only a small elite.
The only thing that will stimulate meaningful economic growth, create job opportunities and truly empower all South Africans is implementing sound free-market policies.
The Freedom Front Plus will keep endeavouring to replace failed ANC policy and corruption with a clean, free-market-driven alternative that prioritises the people’s interests.
‘Disclaimer - The views and opinions expressed in this article are those of the author(s) and not necessarily those of the BEE CHAMBER’.