Babalo ndenze | May 29, 2025
The party called in Congress on Thursday to present an alternative to the Transformation Fund, defended by Minister of Trade, Industry and Competition Parks Tau.
Cape Town – The Democratic Union (DA) has a view to abolish the law and wants an independent review of the country's broad black economic empowerment (BBBEE) law.
The party said the law not only recycled and enriched the same “big monkeys,” but was not a disadvantage and could not remain in its current form.
The party called in Congress on Thursday to present an alternative to the Transformation Fund, defended by Minister of Trade, Industry and Competition Parks Tau.
The DA said it rejected the Change Fund as another failed BBBEE scheme that enriched the elite rather than the workers.
The party announced its submission to the Transformation Fund of the Department of Trade, Industry and Competition on Thursday, offering alternatives.
DA Trade spokesman Toby Chance said the fund thwarted growth by focusing on race instead of investment and work.
He also recommended new approaches to changing Bbbee laws and changing them.
“Therefore, specifically, we recommend an independent review of BBBEE laws and regulations that focus on economic growth and impacts on job creation.”
He said two recent surveys show how South Africans are separated from the bees and do not believe the government should continue to push forward with policies.
“Disclaimer – the views and opinions expressed in this article are the views of the author and are not necessarily those of the Bee Room.”
