Search Results

Ina Opperman | 7 May 2023 Everyone is struggling in adverse economic conditions, including small business that lost even more confidence in the last quarter of 2022. Small business’ confidence has plummeted again in South Africa due to the escalation of the energy crisis with it the onset of indefinite stage 6 load shedding. The confidence of small- to medium-sized enterprises (SMEs) decreased once more following an upward trajectory in the lead-up to the end of 2022. Hopes of making a comeback will rely on the ability of small businesses to divert to alternative sources of energy according to the Business Partners Limited Q4 2022 SME Confidence Index, says David Morobe, executive general manager for impact investing at Business Partners Limited. Load shedding woes The independent small business financier predicted that the rising confidence levels seen last year would be hit hard when load shedding intensified. “We know that the impact of the energy crisis caused a ripple effect across the SME sector, with many businesses facing severe financial losses related to a loss of revenue, supply chain disruptions and a drop in productivity.” Therefore, small businesses now face the option of investing in alternatives to limit their reliance on the national grid. With rolling blackouts expected to persist indefinitely, accessing a predictable source of power is imperative for business continuity and should be treated as a top priority, which might remain a challenge for 27% of SMEs surveyed who indicated that their businesses could not afford to invest in alternative energy solutions.” Confidence in local economy According to the index, SME confidence that the local economy will be conducive for business growth within the next 12 months is at 64%, 13 percentage points lower than the previous quarter. Business owners’ confidence that their ventures will grow in the next 12 months, which currently sits at 56%, indicated a similar pattern of decline, falling by 9 percentage points compared to the previous quarter. The most notable decrease in confidence levels was seen in the confidence SMEs have in the private sector and whether it is doing enough to support South African small businesses. This indicator saw a decrease of 14 percentage points compared to the third quarter of 2022. “This is a red flag given the critical role of the private sector in supporting the growth of small businesses. Many SMEs rely on supplier agreements with the private sector and structure their business models around this demand,” Morobe says. Private sector players also provide small businesses with much-needed access to funding for kickstarting their ventures, purchasing assets and hiring talent. “As such, the return of SME confidence in this area is a vital factor in creating an enabling environment for entrepreneurs, who are essential contributors to job creation, social empowerment and economic growth.” However, despite the overall negative trajectory, remarkable increases in confidence levels were noted on two fronts in the fourth quarter compared to the same quarter in 2021. There was an increase in the belief that government is doing enough to foster SME development (a level that is currently at 51%, a 17 percentage point increase compared to 2021). There was also a 11 percentage point increase in SME confidence that local labour laws are conducive to growth, which currently sits at 56%. Morobe says this can relate to the perception of progress being made to reduce red tape and promote better ease of business including the establishment of the Red Tape team in the Presidency. Provinces such as the Western Cape have made strides in this regard, particularly in the area of procurement and extending the opportunity for small businesses to win government tenders. Less administrative burdens “Other key developments include the exemption of SMEs that employ less than 50 employees from the annual reporting requirements in terms of the New Employment Equity Act that was tabled late last year and became policy only in 2023.” Morobe says generally any reduction in red tape goes a long way to ease the administrative burden involved with conducting business and give small businesses some breathing room to focus on other needs and objectives. Cashflow retained its position as the most long-standing challenge identified by local small businesses in the SME Index, while crime was the second most pressing concern, followed by funding, which replaced ‘economic conditions’ as the third biggest roadblock to success. Morobe says cashflow challenges have been exacerbated by the increase in rolling blackouts, with the national grid buckling under existing pressures as 41% of SMEs surveyed reported business interruption and 39% claimed a loss in productivity as a direct result of rolling blackouts. This was compounded by rate hikes which escalated significantly towards the end of 2022 and for 60% of local small businesses, this market factor contributed to increased financial distress. Not surprising small business confidence took a knock “The SME sector is buffeted by headwinds on a national and global front. It is therefore not surprising that their confidence has taken a knock. Hopes of recovering this confidence lie in the collaborative efforts of all sectors and stakeholders to provide the support SMEs need to switch to power alternatives and sustain their operations in the long-term.” He says as a company Business Partners aim to address this need with initiatives such as its Energy Fund for SMEs, which offers loans for small businesses seeking to invest in their own alternative energy systems. “We hope that initiatives like these will make the difference that the industry needs to find its feet and work towards the level of success we know it can achieve.” ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.citizen.co.za/business/personal-finance/small-business-confidence-plummets/

Natasha Odendaal | 5 May 2023 Social enterprise Kusini Water is accelerating its Water Champions programme to train unemployed youth and unlock economic opportunities in communities, as it works to provide water access across South Africa. The firm, which builds water treatment systems from nanotechnology and macadamia nut shells to bring clean, safe drinking water to people in rural, peri-urban and informal settlements, aims to equip 100 youth, particularly women and youth with disabilities, with water technology skills in 2023. Kusini Water founder and CEO Murendeni Mafumo tells Engineering News that financial and operational sustainability is one of the biggest challenges in rural water economics. Over 50% of all water projects fail within the first two to three years as they lack local ownership and, particularly in donor-led or aid-based solutions, once a project is installed in a community, the community itself is often ill-equipped to operate and sustain the project. The Water Champions programme is Kusini Water’s technical response to that challenge. “We train young people from communities that are affected by lack of access to clean water to operate and run the water filter systems that we install in those communities, enabling them to generate some sort of income from those locations while sustaining the project, creating full-time employment as well as ensuring that the project continues,” he says. The group, which moved to new, larger premises in Riversands, Gauteng, early in April, has collaborated with various local and global enterprises since 2016 to provide water access at over 50 locations, which are used to gather and treat five-million litres of water each month. “Our objective is to directly supply clean water to five-million individuals by 2025 and expand to all African nations by 2030.” The 2023 edition of the Water Champions programme, a hybrid skills development programme, is designed to give technical training to 100 young individuals, primarily unemployed women, equipping them water-related technical skills and providing them with a National Certificate in Community Water, Health and Sanitation promotion (NQF Level 2) accreditation in the basics of water technology and treatment. This programme also aims to improve economic participation by training them to run and own water kiosks. For each province, the top 10 successful candidates will be participating online in the first half of the bootcamp, of which four will be selected to join the in-person bootcamp where they will be trained further and receive a grant to start and run their own water kiosk in their own community, particularly at points of use in schools, clinics and other important facilities within communities affected by lack of access to clean water and sanitation. “This provides more potential for job creation. As each kiosk is launched, there is a technician that is assigned per kiosk,” Mafumo says, noting that there will be opportunities for 100 technical support jobs. “We are operating in all nine provinces and we need to be able to have a good network of technical support as well,” he continues, pointing out that, as much as water champions are trained, they often do not have years of technical experience operating the systems. In addition, Kusini Water builds filtration systems from waste macadamia nut shells, so further jobs can be created through macadamia nut farmers supplying the company with the materials required for its filtration systems. All Kusini Water’s systems, which are modular, customisable, mobile-enabled, affordable and durable, use locally-sourced material, expertise and renewable energy to bring clean water to communities regardless of location. The solar-powered Kusini Kiosk, for example, is one solution for township and middle-income areas, featuring a high-capacity solution for water provision in communities, including a water container and a mini water treatment plant that filters, unit-dependent, 5 000 to 20 000 litres of municipal or underground water each hour, with filtered water sold to communities at reduced rates. “All our finished projects are fitted with a flow sensor, this sensor allows us and our partners to see how much water is flowing at any given time,” he adds, noting that the systems, which have a minimum four-stage treatment, comply with the SANS 241 standard for drinking water to ensure the water is safe for consumption. The Water Champion programme requires applicants to be entrepreneurial youth, preferably women, between the ages of 18 and 35, be based in, and involved in, a rural or economically disadvantaged community and interested in solving water problems. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.engineeringnews.co.za/article/kusini-to-equip-communities-with-water-skills-unlock-economic-opportunities-2023-05-05

Partner | 5 May 2023 In today’s increasingly digital and interconnected world, access to technology and connectivity is more important than ever. However, not everyone has equal access to these resources, and the resulting digital divide can create significant barriers to economic and social progress. This is particularly true in developing countries like South Africa, where many people lack the skills and infrastructure necessary to take advantage of the opportunities provided by the digital economy. One company that is working to address this issue is MBV IT, a leading provider of ICT and telecommunication services in South Africa. The company participated in the 2023 Pella Career Expo involving Sewagodimo Technical High School and Morare High School in conjunction with an NPO called Pella-Mathlako Development Group(PMDG), an event aimed at promoting ICT skills development and connectivity in rural communities. The two high schools are based in Rustenburg in the Northwest province. By engaging with students and educators at the event, MBV IT demonstrated its commitment to corporate social responsibility and its belief in the power of technology to drive positive change in disadvantaged areas. By investing in the development of ICT skills and connectivity infrastructure in these areas. MBV IT is helping to create a more inclusive and resilient society that is better equipped to face the challenges of the future. The benefits of initiatives like these are clear. By providing opportunities for students to develop their ICT skills and gain access to connectivity and companies like MBV IT are helping to bridge the digital divide and create a more equitable society. This, in turn, can drive economic growth and development, as individuals and communities are better able to take advantage of the opportunities provided by the digital economy. Moreover, initiatives like these can also benefit the companies that engage with them. By demonstrating a commitment to corporate social responsibility and investing in the communities they serve, companies like MBV IT can build stronger relationships with their customers, employees, and other stakeholders. This, in turn, can lead to increased brand loyalty, improved employee morale, and a range of other benefits that can help to drive long-term success. In conclusion, initiatives like MBV IT’s participation in the Pella Career Expo for high school scholars in underdeveloped areas are essential for addressing the digital divide and promoting economic growth and development in disadvantaged communities. By leveraging their expertise and resources to provide opportunities for students who may otherwise be left behind. MBV IT is demonstrating their commitment to corporate social responsibility and setting an example for others to follow. As we move forward into an increasingly digital and interconnected world, it is essential that we continue to invest in the development of ICT skills and connectivity infrastructure in disadvantaged areas, to ensure that no one is left behind in the pursuit of economic and social progress. For more information please visit the MBV IT website on www.mbvit.co.za and for Fiber please visit the Pluxnet website on www.pluxnet.co.za or Email: info@mbvit.co.za ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://businesstech.co.za/news/industry-news/685039/mbv-its-initiative-to-bridge-the-digital-divide-empowering-disadvantaged-students-through-ict-skills-and-connectivity/

Brandvoice Partner | 4 May 2023 As sub-Saharan Africa’s second-biggest economy, South Africa is a booming business hub with a thriving informal economy that cannot be ignored. The country’s micro-enterprises and informal businesses are a crucial part of the National Development Plan for economic transformation, job creation, and poverty reduction, and are an attractive under-penetrated market for financial services. This 20-page white paper, titled Driving Financial Inclusion In South Africa’s Informal Economy: The Landscape At The Bottom Of The Pyramid, published by FORBES AFRICA Insights, in association with Mastercard, captures the challenges and opportunities of the informal sector and the transformative power of financial inclusion in this segment that will thereby further economic growth that benefits everyone. The recent report investigated underserved consumers (LSM 4-7) and Small Medium and Micro Enterprises (SMMEs) in the informal sector across South Africa’s three provinces and business hubs – Gauteng, KwaZulu-Natal and the Western Cape – to establish factors that would democratize and widen financial access and enable equitable financial inclusion. The report documents the state of financial inclusion in South Africa, thereby exploring potential solutions or alternatives to cash as a preferred form of payment within the informal market sector. How can the main actors at the bottom of the income pyramid be incentivized for digitizing their commercial exchanges – and eventually switch from cash – so they can be included, and empowered, in a formal financial ecosystem? The report was brought out through quantitative surveys, data analysis, stakeholder interviews and desktop research. Over 500 face-to-face quantitative interviews were conducted with excluded consumers – consumers who primarily use cash when making or receiving payments, or have bank accounts that are inactive, or have access to facilities such as credit and digital banking but choose not to make use of them; over 200 quantitative interviews were conducted with informal sector SMMEs; and over a dozen qualitative interviews were conducted with senior executives in the country’s financial services sector. The interesting findings and insights include why cash still reigns, why there is now a shift in sentiment being recorded and the many opportunities for accelerating contactless and digital payment solutions in the country’s township economies. FORBES AFRICA Insights is the strategic research and thought leadership practice of FORBES AFRICA. This report was produced in partnership with Mastercard. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. http://www.forbesafrica.com/insights/2023/05/04/driving-financial-inclusion-in-south-africas-informal-economy-the-landscape-at-the-bottom-of-the-pyramid/

Kgaugelo Masweneng | 3 May 2023 The amendment to section 6 of the constitution includes South African Sign Language as an official language to promote the rights of people who are deaf and hard of hearing. Sign language is now the 12th official language in South Africa. This was unanimously endorsed by the National Assembly on Tuesday during its plenary and is an amendment to section 6 of the constitution. It includes South African Sign Language (SASL) as an official language to promote the rights of people who are deaf and hard of hearing. Until now, the constitution provided for 11 official languages. President Cyril Ramaphosa still has to sign the amendment bill into law. The bill was introduced and referred to the justice committee on January 12. The committee was briefed by the department of justice and constitutional development on January 27. Parliament spokesperson Moloto Mothapo said the committee received 58 written submissions from individuals and organisations, most in support of the bill. “The committee noted the opposing views expressed by a few commentators but submits the recognition of SASL as a 12th official language is an important step towards the realisation of the rights of people who are deaf and hard of hearing,” said Mothapo. “The committee acknowledged SASL is not a universal language (different countries have their own sign language and regions have dialects), but submits that, in South Africa, it is in the promotion and development of SASL that the various dialects are also recognised.” ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.sowetanlive.co.za/news/south-africa/2023-05-03-sign-language-recognised-as-12th-official-language-in-south-africa/

SA Government | 4 May 2023 The Department of Economic Development and Tourism (DEDAT) is excited to announce the launch of the first ever Growth for Jobs Tourism Challenge Fund, and requests organisations implementing tourism development projects or programmes in the categories of Tourism Infrastructure Support and Tourism Product Development Support to apply for project funding. Minister of Finance and Economic Opportunities, Mireille Wenger welcomed the launch of the fund: “Our tourism and hospitality sector was hit hard by the COVID pandemic but has seen a remarkable recovery over the last year, with international arrivals reaching 100% of their 2019 figures in February this year. To enable future growth, we need to remove barriers that stand in the way of the sector, ensure we get the basics right, and help support small businesses to add new and exciting experiences, while investing in infrastructure that will unlock success. This is what Growth for Jobs is all about.” Minister Wenger continued: “An important aspect of this fund is that it challenges the tourism ecosystem to co-invest as partners, to ensure that we get maximum impact with the resources we have available. Partnering with the private sector is essential if we are to achieve much higher levels of economic growth in the province”. To help achieve our Growth for Jobs objectives, the first category of the fund will support regional and local tourism organisations, industry associations and district and local authorities to enhance high volume tourism attractions through tourism infrastructure development or upgrades and/ or place making/ beautification activities. Minister Wenger added: “Tourism infrastructure upgrade means the enhancement or development of any existing or new infrastructure required to ensure that tourists can visit attractions and experiences in a safe, clean, comfortable and accessible manner. Examples of tourism infrastructure include trails, walkways, signage, street furniture, public lighting, public toilets, shelters, hides and more.” The second category of the support is to provide financial support to enhance and/or expand collaborative programmes and projects aimed at assisting SMMEs with tourism product development. Minister Wenger added: “This includes product/and/or experience development, helping with access to funders, marketing and branding, and provision of bespoke support such as machinery, equipment, licenses, and accreditation to name a few. The fund will prioritise private sector initiatives aimed at stimulating high yield forms of tourism including in Halal, adventure, gastronomy, heritage and sustainable tourism.” Interested businesses/organisations have until Monday, 22 May 2023, at midnight to submit their online applications. Further information on the application process can be accessed here: https://www.westerncape.gov.za/site-page/economic-sector-support-g4j-tourism-challenge-fund Minister Wenger concluded: “Tourism is an incredible catalyst for growth and job creation in communities both urban and rural, across our beautiful province. It was the driving force behind the Western Cape achieving 99% of the employment gains in South Africa in the last quarter’s QLFS release. It is for this reason that we are focussed on unlocking and enabling its future success. We encourage you to be part of this exciting journey.” ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.gov.za/speeches/western-cape-government-launches-r5-million-tourism-challenge-fund-4-may-2023-0000

Thank you for attending the session we hope to see you again soon. for upcoming events follow this link https://www.bee.co.za/training

Dimakatso Leshoro | 3 May 2023 Small-to-medium-sized enterprises (SMEs) are buckling under the pressure of load shedding and liquidity challenges. That’s according to last year's fourth quarter SME Confidence Index. It found that confidence has plummeted among SMEs as the 15-year long energy crisis in South Africa escalates. Confidence had improved after the 2020 slump because of the Covid19 pandemic lockdowns, but the onset of stage 6 load shedding last year saw businesses hit hard by interruptions in power supply. Executive general manager for impact investing at Business Partners David Morobe said the SME sector was being hammered by headwinds both on a national and global front. It was therefore not surprising that their confidence had taken a knock. "In light of this, small businesses are now faced with the option of investing in alternatives to limit their reliance on the national grid. With load shedding expected to persist indefinitely, accessing a predictable source of power is imperative to business continuity and should be treated as a top priority, which might remain a challenge for 27% of the SMEs surveyed who indicated that their businesses could not afford to invest in alternative energy solutions,” he said. SMEs are the heart of the economy and job creation, however, business owners confidence that their ventures will grow in the next 12 months dropped by 9% to 56%. While confidence that the domestic economy will be conducive for business growth within the next 12 months also dropped 13% to 64%. The survey found that SMEs were concerned about a lack of support from bigger private sector businesses, suggesting that big businesses themselves were under pressure from domestic and global factors such that support to grow the SMEs may not be there. “It's a red flag given the critical role of the private sector in supporting the growth of small businesses. Many SMEs rely on supplier agreements with the private sector and structure their business models around this demand. Private sector players also provide small businesses with much-needed access to funding for kickstarting their ventures, purchasing assets and hiring talent. As such, the return of the SME confidence in this area is a vital factor in creating an enabling environment for entrepreneurs, who are essential contributors to job creation, social empowerment and economic growth,” Morobe said. He said cashflow retains its position as the most long-standing challenge identified by South African SMEs in the SME Index. While crime was reported as the second most pressing concern, followed by funding, which replaced "economic conditions" as the third biggest roadblock to success. Cashflow challenges have been exacerbated by the increase in load shedding, with the national grid buckling under existing pressures. 41% of SMEs surveyed reported having suffered business interruption and 39% claimed to have experienced a loss in productivity as a direct result of load shedding. "This was compounded by interest rate hikes which escalated significantly towards the end of last year – for 60% of local small businesses, this market factor contributed to increased financial distress,” Morobe explained. Outside of load shedding, the SMEs were upbeat that government was doing enough to foster small business development and that the red tape unit in the presidency may help in this regard. Other key developments for the SME sector include the exemption of these businesses who employ less than 50 employees from the annual reporting requirements in terms of the New Employment Equity Act. Meanwhile, there are proposals to amend the National Small Enterprise Act (1996) to level the playing field between government, big business and the SMEs and to create a statutory body to resolve SMEs-related issues. DA’s Henro Kruger welcomed the move saying the lack of adequate legislative support for the SMEs had long been a concern. “The amendment of the Act is necessary because of the apathetic government and the department of small business development, which have been painfully slow in providing the necessary legislative support for small businesses to thrive. The lack of urgency displayed by these entities is unacceptable., and this amendment seeks to address it effectively,” Kruger said. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.news24.com/citypress/business/smes-confidence-plummets-thanks-to-load-shedding-20230503

Linda Ensor | 3 May 2023 Minister warns of ‘harsh’ treatment for companies that fail to comply with Employment Equity Amendment Act Companies that failed to comply with the Employment Equity Amendment Act, which provides for the setting of numerical targets for different economic sectors, will be barred from doing business with the state, employment & labour minister Thulas Nxesi said in the National Assembly on Wednesday. He was one of the economic cluster of ministers who replied to questions by MPs and was asked by DA MP Michael Cardo what methodology or criteria he would use to determine the numerical targets. Nxesi said the sector stakeholder engagements had been concluded and the employment equity numerical targets for each sector would soon be published in the Government Gazette for public comment for 30 days. A number of proposals had been made by stakeholders that were being consolidated. “We will listen carefully,” the minister said. The law would first be applied by using corrective measures, but if there was resistance by companies it would be applied very harshly. “If people violate the law we are going to have to be harsh, and if they are doing business with government we are going to have to say you can’t do business with government if you are violating the law. We just have to be harsh for the sake of transformation. “We have to ensure that transformation cannot be frustrated. We are ready to fight this one, we are ready to fight because it will benefit the majority of our people, including those who are unemployed. What we cannot allow is for people to protect the privileges of the past.” This was positive discrimination or affirmative action, Nxesi said but Cardo stated that the numerical targets were a form of job reservation and quota. “This law is a vicious piece of social engineering and gives you [Nxesi] powers incompatible with a free-market economy and will deter investors, strangle growth and kill jobs,” Cardo said. The minister said the aim of the act was to ensure transformation and the equitable representation of suitably qualified people at all occupational levels from the groups designated in the act. The designated groups are African, coloured, Indian, women of all races and people with disabilities. In terms of the act, the minister may, after consulting the relevant sectors and the Commission for Employment Equity, set numerical targets for each national economic sector in accordance with the demographics of the regional and national economically active population as published by Stats SA in its quarterly labour force survey. Nxesi said he would also take into account the latest employment equity status of the designated groups in the specific economic sectors. This will include issues such as recruitment, promotional and skills development opportunities, termination rates, economic circumstances and other dynamics of each the sectors as reported on by the relevant stakeholders in the sector during the consultation process. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.businesslive.co.za/bd/national/2023-05-03-workplace-equity-delinquents-to-be-barred-from-state-contracts-says-nxesi/

Fuzile Jwara | 3 May 2023 Child support and old age grants account for 70% of government’s spending on social grants which is due to reach R284bn by 2026. In SA, there has been a pervasive perspective that economic development can best be measured by Gross Domestic Product (GDP). However, this analysis is not only inaccurate, but is also misrepresentative of socioeconomic realities. The point that is often overlooked is that GDP only measures production and consumption of goods in a particular country. As such, GDP alone cannot reflect the socioeconomic disparities in SA. Better analysis of welfare should be conscious of capital accumulation, e.g, as offered by German activist Rosa Luxemburg in 1913, and redefined by Marxist geographer David Harvey as “Accumulation by Dispossession”. These theories explain how the SA economy can be considered an historically oppressive settler-colonial economy based on the exploitation of indigenous people and mineral resources for the benefit of colonial and neocolonial capital. The SA economy historically relied on cheap black labour through the migrant labour system, whereby labourers travelled from various parts of Southern Africa to work in the mines. The class dynamics were simple: indigenous people experienced economic exclusion from owning the means of production. An historical class analysis of SA enables us to understand the very foundations of the economy as we know it today. There has been minimal transformation of the colonial economy and its labour processes. SA’s economic arrangement illustrates the absolute peak of racial capitalism. Simply put, SA labour relations are comparable to a cargo ship crossing the Atlantic Ocean with a rusty, leaky engine and the captain of the ship blames the chef. In post-apartheid SA, old colonial structures remain entrenched in economic activity, and in the disparities between those who control the means of productions and labourers. One thing endures in contemporary SA – the exploitation of workers and extraction of mineral wealth. In this regard, how does one apply the GDP as a reliable measurement of SA when our labour force consistently ranks among the most militant in the world? Better yet, how does a GDP per capita of $7,055 (about R129,691) in 2021 (37th highest in the world) reflect well in what is now deemed the most unequal country in the world, with my home city Johannesburg being the most unequal city in the world, according to Euromonitor. The top 1% owns 50% of the country’s wealth. This elucidates racial overtones of capital accumulation in SA bears. It is no surprise that SA ranks as only the 91st happiest country out of 149 countries, which indicates that the general population is gatvol with the state of the country. I understand that there will be an argument of SA having too much red tape when it comes to labour relations. However, we rank 4th only behind Britain, US and Canada in “labour flexibility”, according to the OECD. Importantly, this can be linked to the neoliberal policies adopted by the ANC government since 1994. Capital strike and much lower corporate taxes have decayed the state’s ability to provide the basic necessities for the people. In a world where neoliberal policies reinforce the reproduction of inequality and poverty, how do we rationalise the historical disenfranchisement of indigenous people with the idea of capital-driven solutions, which are tokenistic at best as leading political philosopher Nancy Fraser theorises in her new book on “cannibal capitalism?" Subsequently, neoliberal tools such as GDP also illustrate that the idea of capitalists acting in good faith is farcical, particularly in a country where the private sector consistently ranks among the three most corrupt in the world, according to biannual PwC “Economic Crime and Fraud” surveys. Going forward, neoliberalism ought to follow the same fate as the National Party, a painful death reflective of the millions who died in the capital cannibalisation of social reproduction, the environment and the state. GDP cannot nourish people. The state should be measured on its ability to care for its most vulnerable. A battle the government is currently not winning. A case of the blind leading the blind. • Jwara is an MA in sociology candidate at the University of Johannesburg ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.sowetanlive.co.za/opinion/columnists/2023-05-03-fuzile-jwara-gdp-indicates-that-poverty-inequality-have-reproduced/

Section 3.7, held in Statement 400 in the Codes, allows an active Enterprise Development Beneficiary that is an EME or QSE, which is at least 51% Black Owned, to continue as a Beneficiary when their annual turnover increases to elevate them to the Large Enterprise threshold. However, it is critical to note that an organisation may not support a Large Enterprise as an Enterprise Development Beneficiary unless there was previous support for the Beneficiary when they were a QSE or EME. Notwithstanding, such recognition for those measured on the generic scorecard is for five years only from the first instance assistance was provided. Note that such graduation would elevate them to Supplier Development status and not to that of a Supplier Development Beneficiary. The reason is that an Enterprise Development Beneficiary does not form part of an organisation’s supply chain, but a Supplier Development Beneficiary does. To qualify for the 2 Bonus Points on offer, an organisation must provide evidence that an Enterprise Development Beneficiary did not form part of its supply chain before becoming a Beneficiary. Enterprise & Supplier Development (ESD) Services are available to guide members on the implementation of sustainable ESD Strategies.

The objective of Absorption, as outlined in the 2019 amendments to Statement 300 , is to create employment for unemployed learners upon completing their learnerships. Absorption must happen before the end of an organisation's B-BBEE verification, irrespective of the Measurement Period. As long as the person was a learner within the financial period, it should be claimable where they have completed the learnership programme by the time of verification. Skills Development Services are available to advise Members on Absorption strategies.