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Davies: B-BBEE does not impoverish whites

Oct 17 2013 13:17

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

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

"B-BBEE policy is not meant to impoverish white people, as it is a business imperative for companies to comply with B-BBEE 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 B-BBEE.

"Furthermore, there is no white person who is impoverished because of the introduction and effects of B-BBEE," Davies said.

The question was posed by Freedom Front MP Anton Alberts.

Alberts 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.

"There has never been any research to reflect the unintended consequences of the B-BBEE policy with regards to the impoverishment of white people," Davies said.

"In this regard the department will welcome such a study from the honourable member."

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rob davies  |  anton alberts  |  bee  |  sa economy


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