Black economic empowerment: a study of recommendation by the Black Economic Commission and the practical effects of the application thereof relative to similar experiences in other developing countries
Londt, Shirnaé Bronwynne
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The market value of Black Economic Empowerment (BEE) companies listed on the JSE Securities Exchange (JSE) has fallen to only 2% of the overall market capitalisation of the JSE. Many BEE companies have disappeared from the exchange and there have been many failures. In the context of the report of the BEE Commission (BEE Com), it is essential to understand why these failures have occurred and it is essential to research methods of structure, capitalisation and listings to ensure that ownership of the economy is fairly distributed in future as per the recommendations of the BEE Comm. The motivation for this research project is based on the fact that as a member of the Historically Disadvantaged Group in this country, and after having qualified in the Faculty of Law with a commercial background, I would like to attempt to make a meaningful contribution to the transformation that should take place to facilitate equality of ownership of the economy. The proposed research is critically important as the recommendations of the Commission have to be implemented as a matter of urgency, given the current slow growth rate of the economy and given the fact that as many more new enterprises could be listed on the JSE, it would provide further access to jobs, thereby positively impacting on the unemployment situation thereby contributing to poverty relief.