Tag: economic inclusion

South Africa stands at a pivotal moment. Two months ago, the Department of Trade, Industry and Competition (DTIC) unveiled a draft Transformation Fund Concept Document. This announcement sparked a bold conversation about the future of Broad-Based Black Economic Empowerment (B-BBEE).

After years of sustained pressure especially from organisations like Sakeliga, the government relented in November last year and promulgated regulations stating that state-owned enterprises (SOEs) no longer have to comply with Broad-Based Black Economic Empowerment (B-BBEE), requirements when awarding government contracts.

There is one serious missing link at the centre of today’s capitalism. It is a disequilibrium between increased economic interconnectedness and increased isolation/exclusion. This unique challenge in the 21st century calls for a unique solution: Ubuntu.

The rapid change in retail and trade networks caused by the global pandemic has highlighted how logistics – and air logistics in particular – is crucial to the economy. The first wave of lockdowns brought an urgent need for personal protective equipment such as masks, gloves, gowns, and face shields, as well as sanitising products.

Youth unemployment is not a problem to be solved; it is an opportunity to maximise. Reframing one of South Africa’s single biggest socio-economic challenges sets the us apart from most skills development providers.

As we navigate the turmoil and disruption caused by the COVID-19 pandemic, all eyes are on keeping each other safe while preparing for a post-pandemic world. The custodians of this post-pandemic future are young people – and when one considers that the official unemployment rate for people under 35 in South Africa is 46.3%, the urgency of meaningful and sustained youth empowerment cannot be understated.

The recent economic reconstruction and recovery plan delivered by South African President Cyril Ramaphosa, emphasised the intention of Government to assist female-led businesses that have experienced hardships as a result of COVID-19.

As more South African politicians and policymakers call for “radical economic transformation” (RET) and others are suggesting “smoke and mirrors”, RET is not possible without a radical change in the way South African businesses see transformation as a whole.