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Zero tolerance for bad budgeting in public sector
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The Budget Speech delivered by the Minister of Finance on 24 February 2021 cast some light on what developments we can expect on the public procurement front in South Africa. The government spends close to a trillion rands on public procurement which accounts for approximately one fifth of South Africa s gross domestic product, and is a significant feature of state operations and of allocative patterns in the broader economy.
Western Cape legislature advised on breach of B-BBEE by province iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
Andile Ntingi Share Andile Ntingi is the chief executive and co-founder of GetBiz, an e-procurement and tender notification service. (Photo: Finweek)
Pressure from the European Union, and a potential appeals court judgement, may force the government to rethink its empowerment approach.
Just as I thought broad-based black economic empowerment (B-BBEE) policy had been relegated to the backseat of public discourse, it has stormed back into the front seat.
Between 2010 and 2019, the policy went into a lull due to a significant reduction in the number of major B-BBEE equity transactions that were concluded, resulting in news and information about the policy virtually disappearing from mainstream media.