World Bank investment advice to SA sounds similar to that of Afriforum, Solidarity – BBC

JOHANNESBURG – The Black Business Council is concerned with recommendations by the World.

The bank suggests that for South Africa to attract investment, it should pull back on BEE and other economic empowerment laws.

BBC CEO Kganki Matabane says the recommendations sound similar to those of Afriforum and Solidarity.

READ: Steenhuisen rubbishes ‘Agri-BEE’ claims by Sakeliga

Matabane says the face of poverty in South Africa is Black, therefore, the World Bank needs to come up with something that makes sense to the majority of South Africans.

The BBC will engage the World Bank to correct their misconception, says Matabane.

‘The data is there, what they are talking about with regards to the market affects 7% of the economy,’ he says.

Matabane says companies across the world always have to comply the laws and regulations of the countries they operate in.

According to BBC, South Africa cannot be made to forget that there was apartheid in the country; and 32 years later are still grappling with its impact.

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