By Lehlohonolo Lehana.
ActionSA believes that government’s Broad-based Black Economic Empowerment (B-BBEE) has not been effective in advancing economic transformation and the participation of black people in the economy.
The B-BBEE Act of 2003 was introduced by the government to address the racial inequality in the country’s economy due to apartheid.
In ActionSA’s draft policy document, under economic justice, the party recognises that black, coloured, Indian and Asian people still face exclusion from opportunities.
Party leader Herman Mashaba says that the party will instead replace it with its own policy called Inclusive Economic Empowerment.
Mashaba delivered the closing address on the final day of the ActionSA policy conference on Thursday.
“This week this conference approved that when we take office, we will repeal the BBBEE act of 2003 and replace it with a comprehensive package of interventions under our own policy called Inclusive Economic Empowerment. When implemented, Inclusive Economic Empowerment will see the launch of a massive opportunity fund which will fundamentally reduce inequality in South Africa.”
B-BBEE, which has come under fire from some quarters for only benefitting a few, was meant as a measure placed by to address the inequalities of the past.
The policy, which has been defended by President Cyril Ramaphosa, has also drawn the ire of the Democratic Alliance.
In 2022, DA leader John Steenhuisen called for the B-BBEE to be replaced by the party’s Economic Justice Policy.
The party will contest national and provincial elections for the first time in 2024, has also proposed the implementation of a universal basic income grant (BIG) for a maximum of three years for eligible South Africans.
The party, which is part of the Multi-Party Charter for SA, which seeks to oust the ANC from government, proposes that BIG eligibility be calculated at the food poverty line in year one, the lower-bound poverty line in year two and the upper-bound poverty line in year three.
Stats SA measures the food poverty line at R663 per person per month, the lower-bound poverty line at R945 and the upper-bound poverty line at R1,417.
Watch Live in the video below:
Video Courtesy of ActionSA.