Could the State Capture --- be the only real and sole culprit in downgrading SA's credit rating and thereby having had a negative impact on the economy? Can't we perhaps look back to the post 1994 empowerment strategies meant to balance the scale between the blacks and whites, the likes of Black Economic Empowerment (BEE) for example, and interrogate deeper if perhaps they too were not contributing factors to the status quo?

According to the ANC government and the BEE enacting ACT of 2003, direct intervention in the redistribution of assets and opportunities was needed to resolve the economic disparities created by Apartheid policies which had favoured white business owners and indeed BEE intended to transform the economy to be representative of the demographics. Having seen its implementation starting from 2005, it was criticised for benefiting only a narrow stratum of previously disadvantaged groups, hence the 2007 introduction of a modified version of the programme called Broad-Based Black Economic Empowerment or B-BEE.

Source author: Malefetsane Dominic Mosala mosalalaw@gmail.com