ANC Set To Limit Members Business Interests

Farrel — Sat, 05 Aug 2006 18:40:00 -0500

It’s getting harder and harder for the ANC to declare itself the party of the masses when five members of the NEC are cumulatively worth R1.5 billion. Despite the current crop of ultra-rich BEE deal recipients being an almost obvious result from the moment of inception of the current BEE scheme, the ANC has only decided now that it might have to make changes to place some limitations on the business interests it’s members can pursue once they leave active politics.

Among the limitations that might be implemented is a five year cooling off period precluding an ANC member from entering into business in the area where he previously had political power and considering an ANC member who has entered into an empowerment deal to “no longer be regarded as a historically disadvantaged person”.

I think even Thabo Mbeki is getting a bit annoyed when yet another BEE deal goes to a company that has ties to Patrice Motsepe, Tokyo Sexwale or Cyril Ramaphosa.

"ANC Set To Limit Members Business Interests" by DA Mal

Sun, 06 Aug 2006 16:49:48 -0500

EVEN Thabo Mbeki? Hm. I suspect Mbeki and the ANC intellectual circle are now realising that the form of BEE they created has largely granted their enemies (Ramaphosa and Sexwale are no friends of the president) the potential to buy the political positions they want.

Still, I’m not sure that Mbeki could have done much to prevent the emergence of the BEE magnates. This is South Africa. Since the beginning of industrialisation, and arguably long before then, there have been people with the political clout of the Randlords.

Politics.za: ANC Set To Limit Members Business Interests

ANC Set To Limit Members Business Interests

"ANC Set To Limit Members Business Interests" by DA Mal