BEE Codes: ANC intensifies the economic war against minorities
"The ANC has with the amendment of the Broad-based Black Economic Empowerment (B-BBEE) Act and accompanying B-BBEE codes, intensified the economic war against minorities, and especially white men," Adv. Anton Alberts, the parliamentary spokesperson on Trade and Industry says.
This amendment, which has sent shockwaves through the business community, will come into effect this Friday already.
Adv. Alberts says the codes now require, amongst others, that enterprises should be 40% empowered which means that many existing enterprises which had met the requirements of the previous codes will now lose their status.
He said the statements by Xolani Qubeka, the chief executive officer of the Black Business Board that the war is not over yet and that attention should also be given to the changing of the government's procurement regulations in order to assist black enterprises, is especially worrying.
"This characterization of the struggle is indicative of the real nature of B-BBEE as a war against minorities which translates into a de jure or legalized attack on the economic rights of whites and a de facto attack on brown people.