ActionSA vows to 'annul' B-BBEE when it takes power
Action SA has vowed to scrape the government's Broad-based Black Economic Empowerment (B-BBEE) should it take office after the 2024 general elections.
Party leader Herman Mashaba says that the party will instead replace it with its own policy called Inclusive Economic Empowerment.
Mashaba delivered the closing address on the final day of the ActionSA policy conference on Thursday.
"This week this conference approved that when we take office, we will repeal the BBBEE act of 2003 and replace it with a comprehensive package of interventions under our own policy called Inclusive Economic Empowerment. When implemented, Inclusive Economic Empowerment will see the launch of a massive opportunity fund which will fundamentally reduce inequality in South Africa."
B-BBEE, which has come under fire from some quarters for only benefitting a few, was meant as a measure placed by to address the inequalities of the past.
The policy, which has been defended by President Cyril Ramaphosa, has also drawn the ire of the Democratic Alliance.
In 2022, DA leader John Steenhuisen called for the B-BBEE to be replaced by the party's Economic Justice Policy.
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