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IFP spokesperson, Mkhuleko Hlengwa speaking at a party engagement.
The Inkatha Freedom Party (IFP) says there is no need to replace the Black Economic Empowerment (BEE) policy.
This is after the Democratic Alliance (DA) unveiled its Economic Inclusion for All Bill, which aims to replace the policy.
The DA says the proposed bill aims to repeal all race-based procurement policies and replace them with a real empowerment system that targets poverty alleviation.
IFP spokesperson Mkhuleko Hlengwa says, “The IFP has always maintained the principle that BEE is a necessary policy proposition which seeks to regularise the economic empowerment imbalances which exist in the country, owing to the realities of the past. And BEE has been compromised as a principled position by poor implementation and corruption. What we need to regularise, therefore, is how we move forward with BEE to implement it correctly and to ensure that the noble ideals which had characterised it at inception are achieved.”
Responding to a question about BEE on Monday, African National Congress (ANC) President Cyril Ramaphosa said that the policy is rooted in the Constitution.
“Currently, we have a BEE policy, a BEE policy that is rooted and underpinned by our Constitution, and the laws that we have passed. So, if anyone wants an amendment to the BEE legislation, they must table their proposals, they must be taken for discussion in Parliament, and at the moment the BEE policies, legislation, regulations as they stand, apply without any dilution whatsoever,” he said.
VIDEO| ANC President Cyril Ramaphosa responds to a question about BEE:
