Monday, March 30, 2009

Black Economic Empowerment : The real beneficiaries

This past Saturday I went to an SME workshop, planned and organized by Magna Carta for Standard Bank. We engaged in a conversation that birthed this post, with some of the delegates.

The conversation began with Anthony saying, since the initiation of Black Economic Empowerment (BEE) many white owned companies were disgruntled. He says his courier company lost contracts with regular clients, which they negotiated after 1994 therefore still within the new dispensation.

Contrary to popular belief, South Africa’s black owned companies also hardly benefit from this innovation that was meant to assist in the emergence of new businesses. Most government projects, known as tenders, don’t reach the youth owned companies, as was intended. These tenders under the banner tag of “BEE” return a chunk of the profits as bribes to government employees.

One of the entrepreneurs I know whose company was built from these tenders confessed to having paid bribes for the past 5years and now outsources most of the labour, but pockets the profits. The other, an entrepreneur who has been in business for over 10years hasn’t seen any benefit from BEE. In fact he discourages any other company to embark on this direction. Both are ‘wholly black owned’ companies and account for very little of the intended recipients.

Evidently race and the qualifying criteria are by far not the least restrictions.

Friday, March 13, 2009

Not a fan. . . .

. . . . of buses in early morning traffic. After the frustration though, this marketing message struck me.

Idols also happens to be the one my least favorite programs on TV, in fact television for me
is a distraction. At the best of times.

This was quite a message. Someone has their act together.

Tuesday, March 10, 2009

One matchstick: Party of the Century with DJ Al for 150 people!

The One matchstick trader has made another move. View her post here.

Thursday, March 05, 2009

Netweb Event last night

The Netweb Event last was made possible by a lot of remarkable people.

Among many I would like to thank:

- Oupa Moumakwe with his outstanding talk on forming Strategic Partnerships.

- Osman Nkosi of Dynasty Strategists.

- Themba Zulu of Doppio Zero in Newtown, both was remarkable along with their staff.

We also received free copies of Succeed Magazine as a giveaway at the dinner, which were really helpful.

Thank you guys. You rocked out.


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