BBBEE does not impoverish whites – Rob Davies

2013-10-17 13:00

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No white South African has been impoverished by the introduction of broad-based black economic empowerment (B-BBEE) policies, says Trade and Industry Minister Rob Davies.

In written reply to a parliamentary question today, he said the policy was aimed at business.

“BBBEE policy is not meant to impoverish white people, as it is a business imperative for companies to comply with BBBEE in order to transform the economy.”

For this reason, both black and white companies were required to contribute to the transformation of the economy through BBBEE.

“Furthermore, there is no white person who is impoverished because of the introduction and effects of BBBEE,” Davies said.

The question was posed by Freedom Front MP Anton Alberts, who also wanted to know if the minister had any research at his disposal to indicate whether any unintended effects had ensued, or were still ensuing, from the policy and whether he intended to order such research.

Davies responded: “There has never been any research to reflect the unintended consequences of the BBBEE policy with regards to the impoverishment of white people; in this regard the department will welcome such study from the honourable member.”

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