BEE codes must change

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The cynical application of B-BBEE is it keeps the public from engaging in instances where it’s used well, argues the writer. (iStock)
The cynical application of B-BBEE is it keeps the public from engaging in instances where it’s used well, argues the writer. (iStock)

BUSINESS

Renewed calls have been made to change the current broad-based BEE regulatory framework, with experts saying its measurement and scorecard have lost all credibility because companies have found a way to “game the system” and manipulate their scores, and alleging that transformation has become a box-ticking exercise that has led to outright fronting, thus presenting a skewed representation of underlying transformation in the economy.

This was the thrust of a Black Management Forum (BMF) discussion this week, when panellists discussed how the broad-based BEE policy had failed to empower black business and transform the South African economy.

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