Broad-based black economic empowerment (BBBEE) equity schemes have destroyed the “creativity needed for entrepreneurship”.
Pres. Cyril Ramaphosa said at a meeting of the Businesswomen’s Association of South Africa (BWASA) in Johannesburg on Monday.
He believes buying shares in existing companies discourages people from starting their own companies.
“We stopped being creative and sat back. . . (instead of) creating new products, new markets and new opportunities. “
On the role of women in the economy, Ramaphosa said the government would make sure the gender gap in the manufacturing sector narrows.
“There are statistics showing that there is a sharp increase in women-led businesses, but it’s still a drop in the bucket and we need more women in the manufacturing sector,” Ramaphosa said.
He also said the disturbing statistics on gender violence prove that the war on women in South Africa is a reality.
“We live in a country that has declared war on its wives and this is something we need to pay attention to. I made a point that I would continue to spread the message about gender violence. We must liberate our country from the plague of gender violence. ”
He said police must be trained and equipped to respond to sexual assault cases. “We need to make sure that when women are raped or abused, they are treated correctly and that there are places in police stations where they can be properly questioned and taken care of.”
