Andile Ngcaba`s move to invest in Telkom had industry watchers and empowerment activists spluttering with indignation this week.
Besides the conflict of interest issues, it raised huge questions about whether the noble principles of black economic empowerment (BEE) in SA were being misused by an elite few. Probably, this is the case. But is that in itself not a milestone for the country?
Finally, a shrewd businessman - no matter what his race or background - can manipulate every advantage at his disposal to make big bucks, just like the time-honoured tradition in more developed countries. Isn`t this the kind of equality we all wanted for so long?
For the small guys who truly need a hand up the ladder through BEE legislation, another 'fat cat` positioning himself to rake in yet more money smacks of unforgivable greed.
Those who have invested so much in skills development and genuine empowerment have a right to feel betrayed when the system intended to level playing fields and grow the economy becomes a tool to enrich a canny handful of people.
On the other hand, would the Trumps of the world draw the line at using every contact they have to make more money? Would they step back from a golden opportunity and instead pass it on to struggling small businessmen? I don`t think so.
Some black businessmen saw the gaps early and raced ahead to seize the trophies while everyone else stood around wondering where to put the metaphorical starting blocks.
Tracy Burrows, News editor, ITWeb
Nobody ever said this was fair. Or 'nice`. But this is exactly how people have built massive conglomerates (which, incidentally, create many jobs and ultimately make nations wealthier). Those mega-billion-buck corporations were never grown with charitable intentions; they were created to make a small elite very, very rich.
In SA, we have created BEE charters and guidelines in a bid to eradicate the inequities of the past, so that someday, previously disadvantaged businessmen can begin the race from the same starting block as 'previously advantaged` ones. Naturally, these initiatives must continue.
However, some black businessmen saw the gaps early and raced ahead to seize the trophies while everyone else stood around wondering where to put the metaphorical starting blocks. Does this make them bad people, or just faster?
Naturally, those excluded from these tight cliques of self-serving cronies don`t approve of this. It isn`t fair at all. Maybe not entirely ethical either.
But the fact remains that now, absolutely anyone who can think and talk fast enough, edge his way into the right circles, wheel and deal cleverly enough and manipulate every situation to his advantage, can rise to the top. No matter what colour he is. Isn`t that a leap towards true equality?
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