Deputy President Paul Mashatile has defended broad-based black economic empowerment (BBBEE), saying the policy has achieved significant progress and should be applied with greater intensity.
Speaking during a National Council of Provinces (NCOP) session, Mashatile dismissed criticism that BBBEE had failed, arguing instead that it had opened doors for black ownership in key industries.
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He stressed that the legislation was not designed as a race-based tool but as a driver of economic transformation.
“Anybody who says we must scrap that means we must go back to apartheid. You basically say: ‘Leave the economy in the hands of whites,’” he said.
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BBBEE Not to Blame for Slow Growth
Mashatile rejected suggestions that the empowerment policy was contributing to sluggish economic growth and rising unemployment among young people.
“The BBBEE is not a failed policy. In fact, I think it must be implemented more rigorously,” he told the NCOP.
The deputy president emphasised that South Africa’s economy was still largely controlled by the minority, making the continuation of BBBEE essential to redress historical imbalances.
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According to Mashatile, the African National Congress (ANC) introduced BBBEE as a response to centuries of exclusion faced by black South Africans. He underlined that dismantling the policy would mean abandoning efforts to empower those historically disadvantaged.
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He maintained that BBBEE remains a cornerstone of government’s economic transformation strategy and is critical to creating an inclusive economy that benefits the majority of citizens.
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