President Cyril Ramaphosa has told the Commission of Inquiry into State Capture in Johannesburg that his administration and the State Owned Enterprise (SOE) Council will be looking at how Black Economic Empowerment (BEE) is managed.
He says if BEE is properly implemented, it can empower some of the most disadvantaged people in the society.
He says BEE opportunities should be open, favourable and transparent.
Ramaphosa says in the previous administration, few entities were favoured when SOEs needed to do business with outside parties and this was wrong.
“Because what did happen on our state owned enterprises was there were just a few entities that were always favoured when the state owned entity had to conduct business with the outside party and this is wrong. It should be changed and we should move in our state owned enterprise,” says Ramaphosa.
Live proceedings of Ramaphosa’s testimony:
Red flags
Earlier, Ramaphosa said red flags were raised about corruption and the Guptas as early as 2011, but those allegedly involved had protection from various structures.
He also said he was not aware of the close relationship between former cabinet minister Malusi Gigaba and the Guptas.
“A number of key people were placed inside and outside the state and strategically placed and played the role of fully capturing the state and achieving the ends that they had in mind. It was a web and if you could connect the dots, you will find that the dots do connect.”
IN BRIEF: Ramaphosa’s highlights at the State Capture Inquiry:
