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Broad-based black economic empowerment is here to stay – Ramaphosa

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CYRIL RAMAPHOSA

With the advent of democracy in 1994, a key priority of the new government was to transform the economy so that everyone could benefit from the country’s wealth.

As a society, we understood that economic transformation could not simply be left to the markets, but would need special interventions to make it happen.

That is why the Bill of Rights in our Constitution says that to promote the achievement of equality, legislative and other measures may be taken to advance people who had been disadvantaged by unfair discrimination.

The same Constitution provides for both value-for-money and empowerment in public procurement.

It says that when public bodies contract for goods and services, they must do so in a manner that is fair, equitable, transparent, competitive and cost-effective. It also says the state must implement a preferential procurement policy that advances people who have been disadvantaged by unfair discrimination. In

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