LINDA

MAQOMA:

ON LIFE, LEADERSHIP ACTIVISM & INDUSTRY

INSIDE: DECABORNISING THE WORLD TO NET ZERO BY 2050

DIGESTS: THE MISSING LINK IN SA’S EDUCATION MISSION

MINING: WILL THE SECTOR SUPPORT ENERGY TRANSITION

BANKING: BANKSETA, CHAMPIONING DIVERSITY IN BANKING

18

When the World Bank released a damning report about inequality in Southern Africa at the beginning of 2022 one would have expected a concerted attempt and a rigorous undertaking to reduce the inequality gap. According to the report South Africa continued to be amongst the most unequal countries in the world ranking first among 164 measured countries. The report did not shy away from linking its findings to race dynamics in South Africa placing on the spotlight the sad reality that black people remained poor with little access to employment opportunities. As we start 2023 the expectation is that there will be various promises starting with the state of the nation address followed by the budget speech and provincial statement. Many will hope to see a difference which has proven quite a mission to accomplish in the past. The World Bank report stated that about 10% of the population owns about 80% of the country’s wealth, a clear indication that transformation is failing in South Africa.

If the intention through the Broad-based Black Economic Empowerment (B-BBEE) Act was to eradicate the socio-economic disparities that were created by the apartheid regime, then it has failed to yield the expected results. Whether this failure is attributed to the provisions of the Act or the