How BEE gives sweet riches to an inner hive

A coterie of politically connected black businesspeople has amassed extraordinary wealth, but the state remains outside the circuits of production, write Jeremy Seekings and Nicoli Nattrass.  The ANC took office committed to increasing the ownership and control of business by black people. Considerable effort went into the formulation and implementation of the black economic empowerment (BEE) legislation and regulations that compelled business to co-operate in the transfer of large shares of ownership and control to a new, black corporate elite. The close, informal links between black political and economic elites contrast with the mostly strained formal and informal links between ANC leadership and government ministers and the established white economic elite…..more

Advertisements

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s