'Congratulations SAB'
by Tshepo Matjila
2009-07-02 14:14
It is said that in the absence of light, darkness prevails.
Indeed this has been made to pass muster as we continue to be bombarded from all corners by naysayers who are predicting the end of the world as we know it, eg the global financial crisis is going to get worse before it gets better; Eskom's tariff hikes are going to throttle the economy; our drinking water is undrinkable; SABC has collapsed under its own mismanagement weight; rampant public services strikes trying to make the new government ungovernable are signs of an imploding country; etcetera, etcetera.
This is best time to be a pessimist as all the signs of a calamitous environment are prevalent, but goodness ALWAYS triumphs against evil and those on the real pulse of the economic heartbeat are already seeing the silver linings on the dark clouds.
For example, the SA budget deficit at less than 25% gives us a lot of space to manoeuvre; Pravin Gordhan has already identified the inefficiencies in our financial expenditures - and you can be sure that he will tighten those inefficiencies like he did at Sars; Interest Rates are continuing to fall to within their target 3-6% band; and my point of focus: SAB has announced a multi-billion BBBEE deal!
Many people, including some charlatans, have been quoted extensively in the media lambasting BEE deals for their unsustainability and thus questioning BEE necessity in the aftermath of the global financial meltdown. We were given stats after stats of BEE deals that were under threats of collapse when the economy started to bite. It was said that BEE debt were throttling effectiveness of their host companies as Interest Rates spiked and attrition started to show. Some even intimated that BEE was not even entrepreneurship!
What many people fail to understand is that subjects of redress are not only necessary for a country which was once on the brink of civil war, but are key elements in restoring parity and creating a conducive environment for business and self-worth for previously disenfranchised people to actualise. SAB, thank God, understand this very principle well: create a condition for business optimisation and never forget CSI initiatives as they ensure your longevity. With this deal SAB has affirmed its future in SA (10 year deal) and has shown its support for the government of President Zuma.
I am one of the first to admit openly that some of the legislations meant to redress have challenges in their implementations (that might have arisen from their conceptualisations), but good intention is better than none!
With the SAB's historic BBBEE deal, we can expect to see real empowerment of people (both black and white employees would benefit) and an elimination of the comprador bourgeoisies who front for agents of imperialism tendencies. The real merchants of death who use their large largesse to sponsor war across the continent.
I would like to take this opportunity to congratulate SAB Ltd on a master-deal, which when all is said and done, shows that businesses can be agents of change without being hamstrung by government-passed legislations.
The move is very welcomed and shines the light on the positive sentiment that most South Africans share about this glorious country.
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