Capitec CEO speaks out against BEE: It hasn't helped South Africa

Capitec CEO speaks out against BEE: It hasn't helped South Africa

- Capitec CEO Gerrie Fourie has slammed BEE, adamant that the policy is failing

- Fourie was recently dubbed the Sunday Times Business Leader of the Year

- The businessman has echoed the popular opinion that affirmative action has served only a few individuals

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Capitec CEO Gerrie Fourie has spoken out about Black Economic Empowerment, adamant that the policy is failing South Africans.

In an interview with 702, Fourie explained why he was against the policy, commenting that:

"If you look at BEE in South Africa, unfortunately, it hasn't worked because BEE should be there to help all South Africans and unfortunately it has only helped a few people. I think that is something that we need to work on as South Africans."

READ ALSO: Helen Zille wants to challenge SA's perception of race-based politics reported that the Democratic Alliance had recently put forward similar views, also insisting that race-based policy has served to benefit a select elite and not the average citizen.

Sunday Times recently named Capitec as the Top 100 Company of the Year, with Fourie bagging the title of Business Leader of the Year.

Despite the negativity, Fourie feels that things in SA are improving and gave President Cyril Ramaphosa the following advice:

"Each and every person in South Africa should focus on growing and creating jobs. The second one is to execute, it's nice talking about things but the execution is critical. When you execute, you learn and you see what works. Thirdly, is let us be positive."

Ramaphosa himself has called for a focus on job creation and economic growth after an increase in unemployment rates was recorded.

The president is on a mission to attract billions in investment in the hopes of stimulating the economy.

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