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B-BBEE Must Move From Rules-Based To Impact-Centred

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On 6 May, a panel of some of South Africa’s foremost experts will discuss insights from the highly anticipated Sanlam Gauge report, which measures the ‘success’ of Broad-Based Black Economic Empowerment (B-BBEE) on a sectoral basis. The first-of-its-kind research found that while progress has been made, the pace is too slow. Conflicting regulation and an incentivised ‘tick-box’ approach are causing stagnation. To drive momentum and meaningful change, measurement must move from a rules-based B-BBEE to one that measures holistic impact and effectiveness.

The Sanlam Gauge is the first report of its kind to deliver insights on sectoral, rather than individual company performance, to provide a more defined view of how industries within South Africa are transforming. It also provides a ‘score’ for SA Inc’s overarching progress.

Karl Socikwa, Chief Executive: Group Market Development at Sanlam explains that the intention of the Sanlam Gauge lies in bringing key players together to share insights on the challenges faced, and where learnings from specific industries can facilitate positive actions in others, to reflect the Government’s desired outcome of its B-BBEE strategy.

“Transformation is about purpose-led action. This means doing the hard work of intimately understanding the communities we serve. It means asking ourselves collectively how we can move to a space of deliberately designed inclusion. This is the only way to combat the inequality stifling growth. We have to move beyond systemic bias if we are ever to unlock this nation’s potential.”

Co-founder of the Sanlam GaugeAndile Khumalo will moderate the first panel discussion that addresses the key outcomes from the Sanlam Gauge report, un-packing B-BBEE scorecard elements as well as sector specific information. Khumalo will be joined by B-BBEE Commissioner Zodwa Ntuli, Karl Socikwa of Sanlam, Donald Khumalo (Human Resources Director at the JSE) and Lerato Ratsoma (Managing Director, Empowerdex).

A second panel discussion  moderated by Gugulethu Mfuphi will focus on the issues faced by companies when it comes to B-BBEE participation, and will include Mary Bomela (CEO, Mineworkers Investment Company) Sandile Zungu (President, Black Business Council), John Dludlu (CEO, Small Business Institute) and Nompumelelo Mokou (Managing Director Southern Africa, Dimension Data).

The Sanlam Gauge is presented in partnership with Arena Holdings, the Sunday Times Business Times, and KhumaloCo, with Intellidex conducting the research for the report. The Sanlam Gauge research findings will be published in the Sunday Times Business Times on Sunday, 9 May 2021.

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