We must be very concerned

Actually we need to be a little more than a little concerned.  This ArcelorMittal-ICT thing could be the face of how business is going to be conducted in the future.  I am so sickened by the rent(boy) nature of this fuck-up that I am not going to go out of my way to post too many hyperlinks.

I have been reading Jenny Cargill's book over the last few days.  This is no Vuyo Jack book with the word black spelled Black.  No this is a book about her experiences as a consultant in the BEE world - and none of them demonstrate any faith in the process.  The most alarming chapter is that on the mining charter and the DMR.  She talks at length about the rent activities of many BEE parties.  What this means is that they go off and get the necessary licences and then sell them to proper mining companies.  In the case of the ICT-AMSA deal this is R800m.  And this is rife.

On top of it all the new beneficiaries of this deal are mates and family of our illustrious president.  And what really fucking gets me is that Sandile Zungu is one of the beneficiaries.  Money for jam is how he describes it.  Too fucking right - a little bit of lodging, a signature here and there and maybe even a little hijacking (not that we'll ever be able to prove this).  I don't actually mind that he is huge buddies with our leader, but I do mind that he is on the BEE council.  And he has announced that SA corporates .  are unpatriotic.  You actually have to read the opening paragraph of this article.

Sandile Zungu, Executive Chairman of Zungu Investments Company and member of President Zuma's newly established BBBEE Council, says that SA's corporates are unpatriotic because they are not prepared to implement BEE in a meaningful way. This, he cautions, will have dire consequences for the country in the longer term.

We now have a very good idea of the stuff that this platitude-spouting "businessman" is made of. He's now a co-conspirator in these dire consequences. Credibility in tatters

My recommendation is that if you are black go off and get yourself a bunch of licences (everybody else is doing it) and flog them to the nearest mining house - afterall this is the way it is done.

All this is being done on your presidency Jacob - let's hope that you don't make Verwoerd and Mugabe look like little angels.

Is there any point to the mining charter at all?

Comments

[Oliver]

There is only two realities about BEE, 1). BEE policy is brilliant and if implemented correctly SA can be a an economically "Transformed" country; 2). BEE policy is being abused by the select well connected few and there is no damn thing those not benefiting can do about it.