Ask an ordinary working black man what he thinks about black economic empowerment(BEE), and in all probability he will reply, What is BEE, or he ll say”I’m not wealthy enough to benefit from BEE. You have to be rich to be invited into BEE deals.
No matter how hard the government ,ANC or South Africa’s super rich black elite protest to the contrary, the reality of BEE in perception and practice is not for the have -nots.
South Africa’s dollar millionaires has risen a phenomenal 16%, well above the global average of about 6%.
Country has over 42 883 millionaires (ie net worth more than one million $us excluding primary residence.)
The now obsolete state lottery created 34 dollar millionaires.
Of Africa”s 75000 dollar millionaires half are in South Africa with a combined fortune of $700billion.
The BEE process of mainly party political players, has led to enrichment of those close to government.
The BEE Game continues with rages to super rich over night with well connected empowerment deals. 12000 millionaire in three years with a phenomenal 8000 becoming dollar millionaires in just 12 months.
A obviously noticeable difference between the western world millionaires is that they worked to make their money where in South Africa with the black economic empowerment(BEE) its simply given to you. There after you use this gift to enrich yourself further.
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