President Cyril Ramaphosa has strongly defended Black Economic Empowerment (BEE), dismissing claims that it is hindering South Africa’s economic growth.
Speaking during question time in the National Assembly on Thursday, Ramaphosa said those who argue that BEE is an obstacle to the economy should “hang their heads in shame”.
The president was responding to questions from the Democratic Alliance, which again challenged the government’s position on BEE and its impact on investment and job creation.
Ramaphosa Rejects Claims That BEE Is Hurting Economic Growth
Answering a question related to the recent South Africa Investment Conference, Ramaphosa said government is actively working to address what he described as the country’s unacceptably high unemployment rate.
He added that the private sector has not invested in the economy to the extent that it should.
DA MP Toby Chance asked whether BEE was contributing to South Africa’s economic challenges, but Ramaphosa firmly rejected the suggestion.
“It is false, it is lies, and it is just a slogan. It has become a slogan.”
Ramaphosa said repeated criticism of BEE has turned into a misleading narrative rather than a fact-based argument.
Mining Sector Shows How BEE Has Transformed South Africa
The president pointed to the mining industry as evidence that BEE has helped expand economic participation since the end of apartheid.
According to Ramaphosa, comparing the mining sector before and after apartheid demonstrates how black South Africans have become active participants in an industry that was once largely closed to them.
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He said BEE has significantly changed the structure of the sector and created opportunities for black ownership and involvement.
“If people come with this fallacy that BEE is an impediment to the growth of the economy, go to the mining industry and see what this democratic government has done.”
Government Maintains BEE Is Essential For Inclusive Growth
Ramaphosa said the government remains committed to policies that broaden access for black South Africans across all sectors of the economy.
He reiterated that Black Economic Empowerment is a necessary tool for transformation and inclusive economic participation, rather than a barrier to growth.
