Yesterday, the DA’s Economic Inclusion for All Bill was officially introduced in Parliament.
We will now request a first reading debate on this seminal new legislation in the National Assembly.
This marks the next step in our fight to replace the ANC’s failed black economic empowerment (BEE) policy, which targets poverty, unlocks opportunity, and attracts investment.
The failure of BEE is evident, as 44 million South Africans are trapped in poverty, and 12 million remain stranded in unemployment queues.
However, the country’s R1.2 trillion public procurement continues to serve as a feeding trough for cadres, while infrastructure decays, services go undelivered, and economic growth stalls.
In contrast, the DA aims to reform empowerment policy by simplifying the preference points system based on companies’ measurable contributions towards investment in communities.
Our empowerment alternative concentrates on three critical components: (1) Value for Money, (2) Economic Inclusion, and (3) Disqualification Criteria.
Genuine empowerment begins with value for money.
The state must purchase goods and services from companies that are cost-effective, technically competent, reliable, and fully compliant with the law.
For years, BEE has driven up prices, reduced competition, and rewarded political loyalty rather than capability.
Value for money must be complemented by economic inclusion. This can be achieved by awarding companies that do business with the state preferential points if they reinvest in our country’s many impoverished communities through job creation, skills development, infrastructure investment, and integrating small businesses into their value chain.
Most importantly, we need to exclude cadres who are guilty of corruption, fraud, and misrepresentation.
The DA remains committed to an empowerment policy that eliminates exclusion, boosts economic growth, and creates jobs.
The Economic Inclusion for All Bill is an important first step towards achieving these goals.