BEE and economy



We all have a lot to say about COVID 19 and the current state of "lockdown".

Some of it is personal, some of it conspiracy, portions opinions, lots of statistics and various different voices that have never before been heard. Social media is a spread of memes, jokes, heartache, news and people publishing how the situation affects their current reality.

In a company that specializes in niche offerings of skills development, mostly in rural and township areas, operations as we knew it was suddenly grounded. Through innovative thinking and fast reaction we were able to salvage portions of this, which places us in a good position going forward.

B-BBEE has, for year's, been a thorn in many a South Africans side. The intention of B-BBEE is sound, but the cumbersome regulations and application thereof negates most of the gains it is supposed to create. 

The economic landscape will change considerably, we should adjust to it early. 

Personally, I have a few thoughts regarding the current state of the economy and the application of B-BBEE to this:
1. Very few companies would still be able to afford the relative "luxury" of B-BBEE
2. Previously generic (large) entities would now be downgraded to QSE. Thus decreasing the number of compliance requirements 
3. Youth Employment Service initiatives would take a backseat
4. Skills spend would be increasingly un-affordable 

My 10 cents regarding possible solutions:
1. Force SETAs to urgently accredit or approve online learning
2. Allow all donations to the solidarity fund as either Enterprise Development or Socio-Economic Development spend
3. Simplify regulations, to ensure faster verification and thus improving the chances of private sector to get back into the market.

Business can only play the cards it have been dealt. Its time to adjust, lest we fold

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