The Democratic Alliance said the
Department of Trade and Industry is not considering changes to the definition
of new entrants or any major changes to the ownership element of the Broad
Based Black Economic Empowerment scorecard.
DA MP of Trade and Industry Wilmot
James said steps must be taken to ensure that B-BBEE does not become a tool for
elite enrichment.
James said the DA has a problem with
one key aspect of the black Empowerment Codes and that is requirements specification
as the new entrance has to meet the threshold of R50 million.
“We think that it far too high, we
think it should be R10 million to allow small business to qualify,” James
added.
The whole point of the Black
Empowerment Amendment initiative is to drive black Empowerment to be broad-based
by having R50 million as threshold single entrance will not be the key.
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