The bill proposes scrapping the current Broad-Based Black Economic Empowerment Act and making several key amendments to the Preferential Procurement Policy Framework Act .
Macpherson noted that one of the most powerful ways government is able to implement policy, is through the manner in which it selects companies to do business with. It will leverage the significant government procurement expenditure of almost a trillion rand, approximately 22% of our GDP, to incentivise a private company’s contributions towards achieving SDGs;
The SDG model will target the vulnerable and disadvantaged directly, the majority of whom have been classified as black under Apartheid, and make it more difficult for those who do not require benefits to accrue them. This will also stem rampant corruption and patronage;