Ever since the Broad Based Black Economic Empowerment framework was established, it has received numerous criticisms from various members of society. Independent BBBEE Practitioner, Sibusiso Nkosi, carries that criticism forward with his new book.
Titled ”Forgotten Fundamentals: Why Broad Based Black Economic Empowerment Does Not Work”, the book provides an analysis based on factors and elements of why BBBEE has not made the impact it was intended to make. ”The biggest problem is the BEE scorecard and how businesses chase the targets and points”, said Sibusiso Nkosi. ”This results in businesses implementing BEE compliance strategies that do not empower the previously disadvantaged individuals but they still score points on their scorecards.”
Although the book is not written to delve deeper into the analysis of these factors, it provides a clear platform for the stakeholders to engage in the issues outlined. ”The fundamentals of BBBEE are simple; equality, fairness and sustainability. That is what we should be seeking to achieve.” expressed a passionate Mr. Nkosi.
Although most of the arguments about BBBEE circle around Ownership, there are other critical areas such as Employment Equity, Skills Development and Enterprise Development that need to be focused on. In the book, the author has deliberately excluded arguments regarding Ownership citing ”they are already receiving enough attention”
”The beneficiaries of BBBEE are not only rich business people. It is communities as well as people that are employees.” he explained. ”That is what I wanted to focus on, how these people have been left out of the benefit basket and the dire results that this may possess.”
Forgotten Fundamentals: Why Broad Based Black Economic Empowerment Does Not Work, is now available online for purchase on Sibusiso Nkosi’s newly developed website, http://www.bbbeeinfo.co.za/.
Also see his blog http://www.bbbeematters.blogspot.co.za/ and follow @SibusisoBEE on twitter.