MyNews24 is a user-generated section of The stories here come from users.

Comments: 5
Article views: 351
Latest Badges:

View all thulaniallenngwenya's badges.

BBBEE must set limits

12 November 2012, 15:00
It is very disturbing that even after the hard fought for democracy we are still facing unfortunate realities of wealth inequalities. The fact is that we have many Blacks who are hardworking and in reality are the main drivers of our economy yet they remain at the very bottom when it comes to wealth echelons.

The Gov has worked hard to ensure that many Blacks are helped in climbing the echelons of wealth hence the introduction of the BBBEE Act and many other Acts meant to address the injustices done by the Apartheid System. This however has resulted in ONLY benefiting a few elite who are known to the public and possess a certain control over the public and sadly it is constantly them who are benefiting from BBBEE deals.

In a country that is experiencing so much social ills we really cannot afford to have Acts that are ensuring that only a certain people benefit whilst the majority are deprived due to not having the required capital to acquire the stakes. The BBBEE Act should be crafted in a way that is progressive as its mandate is to ensure that the PDIs are afforded opportunities to benefit and be advanced economically, not to make certain Blacks to be super rich and overlook the majority.

Tha BBBEE Act should be changed and be stringent by clearly stating that no one Black person should benefit from more than 10 BBBEE deals or limit total benefit to R50 million per individual so that many Blacks can qualify and benefit from this important and necessary Act. Those who want to be Billionaires must do that at their own expense and not of the majority poor South Africans. The BBBEE is not meant to make Blacks instant Billionaires but to help ALL Blacks to have a fair share in the economy.

For the country to move forward we should agree that there cannot be multibillionaires constantly benefiting from an Act meant to uplift the majority, A LIMIT MUST BE IMMEDIATELY PUT. 
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Carel le Roux
Murder NW

Who is going to lose his life next?

0 comments 31 views
Submitted by
What Prof Piketty doesn't know ab...

Economist Piketty has stirred up a lot of attention around the world. But he really needs to understand the radical difference between South Africa and, say, Europe. Read more...

0 comments 318 views
Submitted by
Keltria Orton
The problem with interviews and n...

What happened to paying people what they are worth? Read more...

0 comments 1255 views
Submitted by
Trudy Mhluli
The ANC is obsessed with self int...

It would be a grave mistake if the ANC allowed this week’s meeting to be engulfed by debates on the leadership race. Read more...

0 comments 457 views
Submitted by
Viva one language only

English is the only international language and is used all over the world because it is a language of convenience. Read more...

0 comments 121 views
Submitted by
Sandton Ecomobility

I don't feel safe to ride a bicycle around Sandton, I don't know about anybody else? Read more...

0 comments 103 views


E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

TV Get us in your home, on your television.

Interactive Advertising Bureau
© 2015 All rights reserved.
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.