Despite the best of intentions, South Africa’s Black Economic Empowerment (BEE) scheme has largely been a failure, says Capitec’s chief executive officer (CEO), Gerrie Fourie.<\/p>\n
Speaking in an interview with 702<\/a><\/strong>, Fourie said that this is because the system has only helped a select few.<\/p>\n “If you look at BEE in totality in South Africa, it hasn’t worked because it should be there to help all South Africans and, unfortunately, it has only helped a couple of people. I think that is something we need to work on.<\/p>\n “There is also an attitude in South Africa that we need to work on that says ‘what can I do?’ rather than (focusing on) entitlement. I think that’s quite crucial for our culture going forward.”<\/p>\n When asked about what advice he would give to President Cyril Ramaphosa, he said that the country should focus on three main points:<\/p>\n New regulations\u00a0<\/strong><\/p>\n Fourie’s comments follow a renewed push\u00a0to enforce transformation in South Africa.<\/p>\n Minister of Employment and Labour, Thulas Nxesi, says that his department plans to introduce harsh measures against employers who do not meet employment equity targets.<\/p>\n\n