Ntshavheni reaffirms B-BBEE as redress tool

South Africa’s Minister in the Presidency Khumbudzo Ntshavheni reaffirmed B-BBEE as a constitutional instrument for economic redress and cited examples of multinational compliance through Equity Equivalent Investment Programmes.

• She said B-BBEE remains an important tool to address the injustices of Apartheid, and that EEIPs let multinationals invest in skills, enterprise development, and black-owned businesses instead of selling local equity.
• She cited outcomes including 240,000 young people in the Youth Employment Service, R15 billion in salaries, more than 2,000 jobs created through EEIPs, and mentions of Dell, Microsoft, HP, AWS, plus Microsoft’s R5.4 billion local cloud and AI infrastructure investment and the $50 million Phalaborwa rare earths project funding.