FROM: KGANKI MATABANE Johannesburg, February, 09, 2025: The Black Business Council (BBC) stands firm with H.E. President Ramaphosa when he said during the State of The Nation (SONA) Address “But we are not daunted. We will not be deterred. We are a resilient people. We will not be bullied. We will stand together as a united nation. We will speak with one voice in defense of our national interest, our sovereignty and our constitutional democracy." The BBC fully supports the Expropriation Act and other redress policies and legislations including, the Broad-Based Black Economic Empowerment (B-BBEE), that are trying to undo the imbalances of the past caused by a legislated Apartheid system. In actual fact, the Expropriation Act is very mild and does not go that far in returning the land to its rightful owners. We urge government to ensure that all businesses, including Starlink, wanting to operate in South Africa must comply to our B-BBEE requirements. The BBC condemns those individuals and groups, who are mainly economically comfortable, who go around the world distorting the facts about human rights matters in South Africa. These are the same groups that will remain silent on this matter and corruption while they continue to work with dodgy characters. Those who are found guilty of these economic sabotaging and treasonous acts should be dealt with harshly as they are creating policy uncertainty during an important year when South Africa and Africa are hosting the G20 and renegotiating the African Growth and Opportunity Act (AGOA). We encourage our democratically elected government to double their efforts towards redress and empowerment of those who were disadvantaged by Apartheid. The BBC is ready and willing to work with government and all South Africans, black and white, and will accompany government in its mission of crisscrossing the globe, as mentioned during SONA, in telling our real South African story. About the Black Business Council The …
Barloworld’s R23Bn Buyout: A Defining Moment for Economic Transformation in South Africa
Johannesburg, February, 09, 2025: With South Africa standing at the cusp of a new dawn in economic transformation, the landmark R23 billion buyout of Barloworld sets the stage for real broad-based industrial empowerment. The deal, endorsed by the Independent Experts, the company’s Independent Board, and the Black Business Council (BBC), is not just a corporate transaction; it is a bold step toward inclusive industrialisation and in creating a thriving, black-owned business sector, 31 years into democracy. At its core, this buyout is a commercially sound transaction that aligns with global best practices, ensures fair market valuation, and places black business at the heart of South Africa’s industrial evolution. It is also a signal that economic transformation is not about handouts, but about structural shifts that commercially integrate black excellence into the value chain of major industrial players. Reinforcing the BBC’s core mandate: to advocate for black participation in key economic sectors, the Barloworld deal marks a defining moment in corporate South Africa. It is a demonstration of what transformation should look like—not just policy compliance but real empowerment through ownership, enterprise development, and industrial participation. Sending powerful vote of confidence in the long-term investment prospects of South Africa, this deal is a game changer for the broader economic participation by black people . The R120-per-share offer provides a compelling premium, which has been validated by Rothschild & Co. SA, an independent expert, ensuring that this is a market-driven, fair-value transaction that delivers value, in cash, to Barloworld shareholders. The Independent Expert also put to rest concerns around the involvement of Barloworld’s Group CEO in the consortium, noting that appropriate safeguards against conflicts of interest had been established to uphold the integrity of the deal. This transaction is one of the many Management …
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Black Business Council Fully Supports the DTIC R100 Billion B-BBEE Fund
Johannesburg, January, 27, 2025: The Black Business Council, which has been calling for this type of fund for sometime, fully supports the establishment of the R100 billion Broad-Based Black Economic Empowerment (B-BBEE) fund. The fund is a necessary intervention by Minister Parks Tau. Economic transformation, through B-BBEE can't be effectively implemented without the accompanying funding. Where will black people, who were excluded legislatively from participating in the mainstream economy (and are still excluded today) get money to fund their urgent and vital participation in the economy of their one and only beloved country? The primary goal of this proposed fund is to consolidate existing B-BBEE funds, which are currently fragmented and siloed, to maximize their impact. It may not require legislative changes and does not involve imposing additional taxes as some, who are anti-transformation, have suggested. What the Minister is doing is to rely on current legislation in order to implement this extremely important fund. The Codes of Good Practice on B-BBEE already provides for a 3% net profit contribution from measured companies to be spend on Enterprise and Supplier Development in terms of the B-BBEE scorecard. There are also equity equivalents funds that companies who are not able to sell their shares to black people spend as well as fines that are imposed by the Competition Commission on companies found guilty of blocking entrance of new enterprises into the economy as per the Revised Public Interest Guidelines. The deafening noise against this fund is ill-informed. Minister Tau should forge ahead and urgently implement this long-overdue practical solution. About the Black Business Council The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The primary purpose of the BBC is to lobby government on policy related matters and to play an advocacy role where …
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Black Business Council BBC Dismayed but Not Surprised by Right-Wing Opposition to Legal Sector Code
By Kganki Matabane, the CEO of the Black Business Council: Johannesburg, 16 January 2025: The Black Business Council (BBC) is dismayed but not surprised by right-wing opposition to the Legal Sector Code. Norton Rose Fulbright, Afriforum and similar anti-transformation organisations who are beneficiaries of apartheid, are taking government to court seeking to overturn a newly implemented policy aimed at the transformation of the legal sector. The legal sector code is an important intervention to transform the legal sector, which like other sectors in the economy, are still characterised by structural inequality inherited through apartheid. Economic Transformation at its heart, is about ensuring equality for black people. Opposing transformation is effectively arguing for the status quo – structural inequality to remain. Norton Rose and Afriforum’s opposition to the legal sector code should be seen in this light and must be condemned. Large majority white owned firms monopolise lucrative specialised legal work from the private sector (and even public sector) which maintain their apartheid procurement practices. The legal sector code’s aim is to provide access to black lawyers to such quality legal work. We urge Ministers Parks Tau and Mmamoloko Kubayi, ministers of Trade, Industry and Competition and Justice and Constitutional Development respectively, to defend the right of black lawyers to access the same work as white law firms. The BBC, as the over-arching confederation representing black professional and business associations, chambers and corporates in South Africa, supports the ministers and the following big seven organisations that have resolved to intervene in the Norton Rose application and oppose it; National Association of Democratic Lawyers (NADEL), Black Conveyancers Association (BCA), Black Lawyers Association (BLA), Advocates for Transformation (AFT), Pan African Bar Association of South Africa (PABASA), South African Women Lawyers …
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Black Business Council Welcomes Firm Stance by Presidency on Bain and McKinsey Corruption
Johannesburg, December, 17, 2024: By Kganki Matabane, CEO of the BBC The Black Business Council (BBC) welcomes the firm stance taken by the Presidency on Bain & Company and McKinsey & Company’s corruption by calling big business to stop doing business with these corrupt companies. The action by the Presidency sets an excellent tone that corruption must never be tolerated, no matter who commits it. The Presidency should go further and refuse to entertain and consider any report from B20, NECOM, B4SA that were drafted by these corrupt companies. The BBC will refer to Business Unity South Africa, the so called B4SA of Martin Kingston and Energy Council of South Africa as corrupt organisations until and unless they publicly disassociate themselves from using Bain and Company, McKinsey & Company and all the other companies that were fingered in state capture in South Africa. Shielding, promoting and doing business with corrupt companies means you are also corrupt. These companies nearly collapsed our beloved country. Equally, the BBC reiterates its call for state-owned companies like Eskom, the IDC, Central Energy Fund and other clean private sector companies to withdraw their membership from Energy Council of South Africa to demonstrate their stance against corruption. The BBC stands firm against any form of corruption and will work with all law-abiding companies and citizens to uproot and expose it, without any fear or favour. The BBC urges the Presidency to convene an urgent special meeting with the leadership of the two (2) Business Apex organisations to resolve and agree on the road ahead for B20 for the benefit of all S.A Inc. The country should work together in the interest of all its citizens and the African continent at large, in hosting the B20/G20 summit. About the Black Business Council The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The …
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Black Business Council Enraged by SA Energy Council Appointing Scandal-Hit Bain to Run Project Management Office
Johannesburg, December, 14, 2024: By Kganki Matabane, CEO of the Black Business Council The Black Business Council (BBC) is enraged by SA Energy Council appointing scandal-hit Bain and Company to run its project management office despite there being ample evidence that Bain colluded with the South African Revenue Service (SARS) and engaged in corruption. The BBC reiterates its call for a complete ban and blacklisting, by both public and private sectors, of Bain and Company, McKinsey & Company and all the other companies that were fingered in state capture in South Africa. These companies nearly collapsed our beloved country. The comments by James Mackay, CEO of the Energy Council of South Africa, that Bain would be afforded an opportunity to "re-earn public trust" is disappointing, to say the least. This re-earning of trust is selectively afforded to certain companies that are mainly big while small and black companies were forced to close down. This blatant inconsistency in dealing with corruption is unacceptable. The BBC wonders if all the members of the Energy Council of South Africa such as state-owned companies like Eskom, the IDC, Central Energy Fund, the SA banks and all the other private sector companies support this move of indirectly funding corruption. We will be engaging individually with all these companies to raise this matter sharply. About the Black Business Council The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The primary purpose of the BBC is to lobby government on policy related matters and to play an advocacy role where policies are in place in order to accelerate the participation of black business in the mainstream economy. Video: BLACK BUSINESS COUNCIL ENRAGED BY SA ENERGY COUNCIL APPOINTING SCANDAL-HIT BAIN TO RUN PROJECT MANAGEMENT OFFICE https://blackbusinesscouncil.africa/mediastatements Boilerplate and Editor's …
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Black Business Council Calls for Total Ban on Doing Business With McKinsey & Company in South Africa
Johannesburg, December, 09, 2024: The Black Business Council (BBC) calls for a complete ban and blacklisting, by both public and private sectors, of McKinsey & Company and all the other companies that were fingered in state capture in South Africa. These companies nearly collapsed our beloved country. McKinsey Agreed to Pay $122 Million to Settle South Africa Bribery Case. The global consultancy firm was accused of bribing government officials. In our view, paying a fine alone is not enough. The perpetrators should face a jail-term if the country is serious about dealing decisively with state capture crime. The BBC calls for those who continue to do business with McKinsey & Company to be uncovered and isolated, as they are indirectly funding state capture. Corruption is bad for service delivery in the country and all those who are caught should be dealt with severely without fear or favour regardless of the colour of their skin. Corruption further erodes the moral fabric of the nation and as such, it must be rooted out completely. The BBC has noticed with dismay that those in the private sector, i.e. the likes of BUSA, who continuously lecture government about corruption and corporate governance, continue to do business with McKinsey & Company unabated. This is a serious double standard that should be called out and exposed. About the Black Business Council The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The primary purpose of the BBC is to lobby government on policy related matters and to play an advocacy role where policies are in place in order to accelerate the participation of black business in the mainstream economy. Video: BLACK BUSINESS COUNCIL CALLS FOR TOTAL BAN ON DOING BUSINESS WITH MCKINSEY & COMPANY IN SOUTH AFRICA Boilerplate and Editor's Notes. More Info on BLACK BUSINESS COUNCIL CALLS FOR TOTAL BAN ON DOING BUSINESS …
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Black Business Council Congratulates Minister Tau and the New CEOs of the NEF and IDC
By Kganki Matabane, CEO of the Black Business Council Johannesburg, December, 05, 2024: The Black Business Council (BBC) congratulates Minister Parks Tau, the Minister of Trade, Industry and Competition (the dtic) for prioritising the stabilisation of key entities reporting to him by appointing the new chief executive officers of the National Empowerment Fund (NEF) and the Industrial Development Corporation (IDC). The BBC emphasised the importance of filling vacant positions in its first meeting with the Minister and are glad that he has already made positive strides. The BBC also takes this opportunity to congratulate both Ms. Mmakgoshi Lekhethe on her appointment as Chief Executive Officer (CEO) of the IDC and Mr. Mziwabantu Dayimani on his appointment as CEO of the NEF. The BBC has confidence that the two individuals are capable of taking the two important developmental funding institutions to greater heights by prioritising funding of black business, black women and youth owned businesses as well as businesses owned by persons with disabilities in order to create jobs, grow the economy and reduce inequality. The BBC wishes both CEOs and the Minister well in creating sustainable black industrialists. About the Black Business Council The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The primary purpose of the BBC is to lobby government on policy related matters and to play an advocacy role where policies are in place in order to accelerate the participation of black business in the mainstream economy. Video: BLACK BUSINESS COUNCIL CONGRATULATES MINISTER TAU AND THE NEW CEOS OF THE NEF AND IDC Boilerplate and Editor's Notes. More Info on BLACK BUSINESS COUNCIL CONGRATULATES MINISTER TAU AND THE NEW CEOS OF THE NEF AND IDC here: Twitter: https://twitter.com/BlackBCouncil Facebook: https://web.facebook.com/BlackBCouncil CLICK HERE to submit your press …
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Black Business Council Calls on BUSA to Stop Claiming to Represent All of Business in South Africa
By Kganki Matabane, CEO of the Black Business Council Johannesburg, December 03 2024: The Black Business Council (BBC) calls on Business Unity South Africa (BUSA) to immediately desist from claiming to represent all of business in South Africa. This follows BUSA statement asserting that “Business Unity South Africa (BUSA) will represent South Africa’s private sector in the B20 and will lead B20 South Africa in 2025”. BUSA’s leaders even self-appointed themselves as B20 Sherpa, Chairperson and Co-Chairperson. This is a unilateral and unacceptable behaviour that perpetuates apartheid exclusion of black majority by those who benefited immensely from apartheid. BUSA, whom we engaged privately on this matter, knows very well that they don’t represent black business, women and youth-owned business, businesses owned by persons with disabilities, as well as Micro, Small, and Medium Enterprises. B20 South Africa’s central theme is "Inclusive Growth and Prosperity through Global Cooperation” and there is no way that the country can achieve any inclusive growth by perpetually excluding the majority of its citizens. We call on President Cyril Ramaphosa to urgently and seriously intervene on this matter as there is no organisation that can claim to represent South Africa without the blessing of the government leadership. About the Black Business Council The Black Business Council (BBC) is the over-arching confederation that represents black professional, business associations and chambers. The primary purpose of the BBC is to lobby government on policy related matters and to play an advocacy role where policies are in place in order to accelerate the participation of black business in the mainstream economy. Video: BLACK BUSINESS COUNCIL CALLS ON BUSA TO STOP CLAIMING TO REPRESENT ALL OF BUSINESS IN SOUTH AFRICA Boilerplate and Editor's Notes. More Info on BLACK BUSINESS COUNCIL CALLS ON BUSA TO STOP CLAIMING TO REPRESENT ALL OF BUSINESS IN SOUTH …
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The Black Business Council Welcomes the Launch of Phase 2 of Government Business Partnership and Calls for More Inclusivity
The Black Business Council (BBC) welcomes the launch of Phase two (2) of Government Business Partnership by H.E. President Cyril Ramaphosa and calls for more inclusivity as Phase one (1) excluded participation by black business, small business, women and youth-owned businesses and businesses owned by persons with disabilities. The launch of Phase 2 reflected a perpetuation of the exclusion of these strategic groups. There is no intervention that can succeed in South Africa if it persists to exclude the majority of its citizens. If these major sectors of the economy continue to be excluded, the initiative should change its name and be called Government BIG Business Partnership as it will not be reflecting all of business in SA. The National Development Plan (NDP 2030) places the responsibility of creating 90% of all jobs in South Africa on Small, Medium and Micro Enterprises (SMMEs). This means that focusing on big business issues ONLY will never address the triple challenge of poverty, unemployment and inequality. The BBC is ready and available to be part of any sustainable solution that seeks to take the country forward and grow the economy, as a full participant and not an annexure to the process. CLICK HERE to submit your press release to MyPR.co.za. Author: Kganki Matabane from The Black Business Council on behalf of BBC. …