More than a few business leaders quietly report that they will simply walk away from the new BEE regulations.
Some of them indicate that, if they are compelled to do so, they will take instructions directly from the Constitution.
But the government now consumes 32% of national income each year. As such, too many businesses are connected to the government’s sphere of economic influence to be able to ignore its directives. Banks, insurers, mobile networks, broadcasters, miners, vehicle manufacturers, construction companies, oil refineries, drug producers, transport companies … all of them are tied up with the government.
For now the shelves are amply stocked, companies are profitable, consumers are satisfied and the private sector is in splendid shape. But make no mistake: the government and the DTI are undermining South African businesses at every turn.
via www.bdlive.co.za
Pay attention to the third paragraph. This inept government has struck fear into corporate South Africa. When I started looking for money for my action against the dti I came across this all the time. One large company (very large) told me that the board had seen our application for support and applauded us for it, but would go no further. This is the reason why I managed to raise R15k in 8 months.
These BEE codes are barely a drop in the proverbial legislative ocean. Our rights as corporate and private citizens are being eroded on a daily basis, all due to incompetent legislating and corrupt implementation (that is of course when you actually figure out what it is that these idiots want you to do). Now we are seeing a government that told us that foreigners are no longer allowed to own land on the receiving end of an unfortunate, but not unjustified, backlash from their African neighbours because of the violent and illegal xenophobic attacks.
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