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IOL News
3 days ago
- Business
- IOL News
Short cuts can be costly, counterproductive and dangerous, Minister Malatsi
Communications and Digital Technologies Minister Solly Malatsi defending his ICT policy and denying affording special treatment for Starlink. He is pushing for the sector regulations to be "aligned" with transformation laws through equity equivalent investment options. Image: X/IOLGraphics If the BS by Communications and Digital Technologies Minister Solly Malatsi that his directive proposing the relaxation of the BBBEE regime had nothing to do with Elon Musk and his Starlink business didn't jeopardise the core of what South Africa is about I would have simply joined the many good, law-abiding citizens who simply laughed it off. But this is serious. Here we're talking about our Constitution, our noble and well-intentioned laws, our national honour and sovereignty, our post-1994 dispensation's foundation and so on. Malatsi's timing has been described as 'deeply unfortunate' by some, but I'd like to label it as very revealing about him and very cheap. Even primary school kids could see the minister's slip showing very plainly as he ran around like a headless chicken, somersaulting backwards and forwards to fling the gates open for the tech billionaire bully while still pledging support for our national transformation project. But all this sound and fury by the minister won't amount to much. His proposal may simply be rejected, as it has been 'roundly' repudiated by the parliamentary committee that summoned him to explain his actions. Which will bring all of us back to square one. Malatsi and his ilk may have been watching too much TV. Watching US President Donald Trump riding roughshod over everything he dislikes by sitting down and signing executive orders can be very tempting for any ambitious politician. But that's not how laws are made in functional democracies like our Mzansi. This is not to say the minister is simply crazy – like Trump and Musk. There's some method in his madness. He's trying to deal with an extremely challenging malady that has infected global trade and business in general and has had a fast-acting corrosive effect on the rules, etiquette, culture and other good things everyone used to take for granted. Thankfully, South Africa is still a democratic nation. The processes for law making and amendment are well known and still stand. And we generally take our sweet time before anything gets done. So, why rush now? My advice for the minister, or anyone wanting to quickly remove these hurdles standing in front of our good potential international investors would be to simply follow and trust the established processes. Short cuts can be costly, counterproductive and dangerous.
Eyewitness News
3 days ago
- Business
- Eyewitness News
DA wants independent review of BBBEE legislation with view to scrapping law
CAPE TOWN - The Democratic Alliance (DA) wants an independent review of the country's broad-based black economic empowerment (BBBEE) legislation with the view to scrapping the law. The party said that the legislation merely recycled and enriched the same "tycoons" and people that weren't disadvantaged, and could not stay in its current form. The party made the call in Parliament on Thursday, while presenting its alternatives to the Transformation Fund, which is being championed by Trade, Industry and Competition Minister Parks Tau. The DA said it rejected the Transformation Fund as another failed BBBEE scheme that enriched the elite and not workers. The party released its submission to the Department of Trade, Industry and Competition's Transformation Fund on Thursday, offering its alternatives. DA trade spokesperson, Toby Chance, said the fund blocked growth by focusing on race instead of investment or jobs. He also recommended changes to BBBEE legislation and a new approach to transformation. "So, in specific terms, we are recommending an independent review of the BBBEE legislation and regulations with a focus on impact on economic growth and job creation." He said that two recent surveys showed how South Africans were moving away from BEE and don't believe the government should continue pushing the policy.
Eyewitness News
3 days ago
- Politics
- Eyewitness News
SA's transformation laws can't be changed because other parties disagree
Babalo Ndenze 29 May 2025 | 13:36 FILE: Deputy President Paul Mashatile addressed the National Council of Provinces in Parliament, Cape Town. Picture: @PresidencyZA/X CAPE TOWN - Deputy President Paul Mashatile said that the country's transformation laws must be implemented and can't be changed because some parties said that changes to the laws that were passed by both houses of Parliament had to go through the same process. On Thursday afternoon, Mashatile responded to questions in the National Council of Provinces on a range of issues, including transformation and threats to social cohesion. Mashatile was asked whether he had considered implementing measures to ensure that the emerging attacks on the country's transformation agenda would not lead to further regression of social cohesion. Some of the transformation laws in question include Broad-Based Black Economic Empowerment (BBBEE) and other redress policies like the Basic Education Laws Amendment Act, which are being opposed by the Democratic Alliance (DA). But Mashatile said that the laws weren't about to change. "There are those who seek to undermine transformative pieces of legislation that have been passed, particularly by the previous administration. But the government is quite resolute that those laws that were passed by the previous administration must be implemented." He said that if any party wanted to make changes to the existing laws, they must go to the Cabinet before going back to Parliament.
Eyewitness News
5 days ago
- Business
- Eyewitness News
MPs give Malatsi hard time for attempting to ease transformation requirements for certain companies
CAPE TOWN - Communications and Digital Technologies Minister Solly Malatsi has come under fire in Parliament for attempting to ease transformation requirements for certain companies. Members of Parliament (MPs) have also accused Malatsi of overstepping his executive powers when he gazetted new regulations that don't require international companies to give a 30% ownership to a historically disadvantaged South African as required by Broad-Based Black Economic Empowerment (BBBEE) legislation. But Malatsi defended the move during a portfolio committee meeting in Parliament on Tuesday, saying it also promotes transformation and will benefit the economy and the Information and Communication Technology (ICT) sector. ALSO READ: Malatsi defends policy directive to ease company transformation targets and BEE requirements Most political parties have rejected the policy move by Minister Malatsi, with some going as far as calling for his resignation. But Economic Freedom Fighters (EFF) MP Sinawo Thambo accused Malatsi of trying to amend legislation, including BBBEE laws, through the regulations. "I think that speaks to the overstepping of executive powers has been spoken to in the house. That is my primary legislative concern," said Thambo. Meanwhile, the African National Congress (ANC)'s Shaik Subrathie questioned whether Malatsi and the Democratic Alliance (DA) are trying to favour Elon Musk's Starlink with the regulations. "The party that he represents, which is the DA, have they had any conversations with Elon Musk and Starlink?" Subrathie asked. But Malatsi assured MPs that the regulations aren't a special dispensation for Starlink and urged members to allow the process to unfold, including the public consultation process, instead of withdrawing the gazette.
IOL News
5 days ago
- Business
- IOL News
Ramaphosa launches ambitious infrastructure initiative to spur job creation
Following his recent visit to Washington, President Cyril Ramaphosa has committed the country to an ambitious infrastructure plan to tun the country's economy around. Image: AFP South Africa is set to benefit from an ambitious R1 trillion infrastructure development initiative aimed at turning the country into a construction site while creating much-needed jobs for the ailing economy. This was revealed by President Cyril Ramaphosa on Tuesday while delivering his keynote address at the Sustainable Infrastructure Development Symposium. "South Africa is set to benefit from R1 trillion infrastructure development programme. This is the first time that the country has taken advantage of this which is something that needs to be applauded," Ramaphosa said. During his address to delegates gathered in Cape Town, Ramaphosa said his administration has committed the country to a transformative infrastructure development programme aimed at setting the country's agenda for economic development. Ramaphosa said only an ambitious infrastructure problem will lead to the desired outcomes as the country seeks to turn itself into a construction site. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ "Coordinating an ambitious infrastructure build programme is the only way South Africa will transform its economy. As we seek to transform our country and commit to unlock its full potential, we must place infrastructure at the heart of our development agenda. When we align our efforts, we unlock our efforts, we unlock economies of scale and attract investment. Coordinating thus ambitious effort is not only a necessity but it is also a transformative native opportunity. Ramaphosa also spoke on the recent trip to Washington following the recent directive by the Minister of Communications and Digital Technologies, Solly Malatsi who is being accused of attempting to suspend the country's BBBEE policies in order to benefit Starlink, a company linked to Elon Musk. Speaking to members of the media on the sidelines of the two-day symposium, Ramaphosa said that low orbit satellite platform is not only driven by Starlink as there are other players locally and internationally, who are interested to participate in the space. "The promise of a low orbit satellite service and internet connectivity is not new. There are other private companies, even the Chinese and Russian companies including local companies who are interested in tapping into this space. People only focus on one company when there is a plethora of other companies wanting to participate and enter the space. What needs to be done in that space is something that still needs to be properly crafted which is a process that the minister will be able to do through public comments and engagements, "he said.
