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December 03, 2009


Kevin Lester

Hey Paul

I am thrilled by the composition of the Advisory Council - not one BEE consultant, not one verification agent and not one member of the team that drafted the Codes - finally an opportunity for an un-conflicted regulator. Chantyl Mulder was a member of the committee that drafted the Accounting Professions Charter, but she is an extremely level headed and capable person who is unlikely to be conflicted, even if that charter becomes a Sector Code.

Eltie Links, Wendy Lucas-Bull, Jerry Vilakazi, Sandile Zungu, Don Mkhwanazi and Claudia Manning all have extensive business experience. Big business in South Africa could not hope for a better "representative" than Lucas Bull who ran FNB before going out and co-building a not unimpressive BEE Investment house (Peotona that now holds some pretty impressive shareholdings, including a stake in De Beers)

But, all things being equal, a DTI that serves, an ABVA and NABC that is being watched, and my old friend Sandile Zungu up there, I have no complaints at all. Indeed, safe hands are finally completely on the wheel – I must say, with a team like this, I doubt very much that the (real or imagined) influence peddlers are going to be happy with this outcome.

But, if I have any compliant, I wonder why those with experience in establishing and managing genuine viable broad-based groups are absent from the team. People like Clifford Elk (MIC), Kgotso Schoeman (Kagiso Trust), Tanya Slabbert or Sonja Sebotsa (Women's Development Bank) and (my shareholder) Salukazi Dakile-Hlongwane (Nozala).

Also some people who manage BEE compliance from within major corporates would also have been useful, and I think particularly here of Nolitha Fakude, who's absence from this Council is notable.

In the interests of ensuring consistency in policy, I think it might have been useful for the President to co-opt Philisiwe Buthelezi from the National Empowerment Fund, but perhaps her role will be like that of the BEE Unit of the DTI, which is (I assume) to guide and support the Council.

But that said, I am still very impressed.

coach suitcase

If one day you lose your way Just remember one thing, my Friend When you’re under a cloud Just visit music and sing

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