BBBEE’s Enterprise and Supplier Development (ESD) seemingly misses the mark more than it hits the intended target.
Many people HATE the idea of BEE. But corporates contributing towards SME development should not be up for debate
Twenty-five years after the end of apartheid, the South African economy is starkly divided between the so-called ‘first’ and ‘second’ economies. This common South African phraseology is a euphemism for ‘the rich’ (who do business in a certain way) and ‘the poor’ (who do business in a different way).
Worryingly, much of the country’s Small & Medium Enterprise (SME) activity is locked into a subsistence paradigm, where each individual business only supports the financial needs of its owner, and fails to contribute meaningfully to economic growth or job creation.