Elite becoming richer

THE DA supports BBBEE that creates jobs that empower black entrepreneurs and not billionaires or the politically connected few. We must ensure that our economy provides incentives to encourage new entrants into the economy so that we can create an inclusive economy.

As a previously disadvantaged South African, I’ve witnessed the failure of the black economic empowerment of Jacob Zuma’s ANC to empower the many in favour of the connected few. It is the politically connected few of the ruling party who become multimillionaires and some even billionaires while the poor become poorer and small businesses suffer.

What is most unnerving is the fact that those who benefitted are not giving back to the communities from which they are coming, thereby promoting the insiders v outsiders economy of the ANC.

Under a DA government there will be more recognition for businesses that create opportunities for new entrants into the economy. This is essential for growth and new jobs, and does much more for redress than the transfer of shares in existing businesses between wealthy and politically connected elites.

The DA rejects racial quotas in favour of programmes that actively promote black advancement by extending opportunity. This we will do by supporting incentives for firms to implement programmes of black advancement rather than punitive measures that hamper growth and jobs.

Small businesses and those aspiring to join the market must be identified and empowered on how to register a business successfully and how to keep it viable. Communities, especially in previously disadvantaged areas, must be encouraged and motivated to become entrepreneurs in a truly broad based empowerment regime.

The DA in its election manifesto this year promises to improve black economic empowerment that uplifts aspiring entrepreneurs and disadvantaged communities by stimulating growth and jobs.

Tyrone Adams, DA PR councillor, NMMM

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