Thread by @CyrilRamaphosa

In giving effect to this priority, the #ANCNEC remains clear that the movement remains resolutely committed to the implementation of broad-based black economic empowerment. #BBBEE

We have noted that whilst progress has been made in empowering black people and women in the economy, the benefits of this progress have not been felt by all South Africans.
 
This means that we need to intensify black economic empowerment measures, rather than relax them.

We need to continue our work to refine and focus our efforts to ensure greater impact and faster realisation of the constitutional and economic imperative of empowerment and redress.

The NEC has noted the new Preferential Procurement Regulations published by the National Treasury last week, in response to the Constitutional Court ruling on preferential procurement in the public sector.

These regulations now comply with Section 217 of the Constitution in that they empower organs of state to develop and implement preferential procurement policies when contracting for goods and services.

Contrary to some statements made in the public arena, these new regulations do not diminish our commitment to preferential procurement as a mechanism for economic transformation.

The NEC has affirmed the ANC’s position that broad-based black economic empowerment remains one of our key policy instruments.

Through the NEC Economic Transformation Committee, we will monitor progress in implementation of this policy and continue to engage with stakeholders, especially black business and professionals.