President appoints his new advisory council on BBBEE

President Cyril Ramaphosa has finally appointed a new advisory council on Broad-based Black Economic Empowerment after the term of the previous council ended in October 2019. The call for nominations to the BBBEE Advisory Council was sent out almost two years ago. The president’s announcement of the council comes on the back of his weekly open letter to the nation on Monday (30 May), when the president said, “while there has been significant progress over the last two decades, there are some areas where there has been regression.

“We have gone backward when it comes to increasing black management control, upscaling skills development, entrenching enterprise development and broadening procurement to give opportunities to black women and the youth,” he said. The President has appointed 14 Council members in terms of Section 6(1)(d) of the Broad-Based Black Economic Empowerment Act (Act No 53 of 2003). The appointments are for a period of five years. The group is diverse and representative of people with sector expertise to serve as members of the Broad-Based Black Economic Empowerment Advisory Council and to guide the government on the intensified transformation of the economy.

Among those appointed include the current Black Business Council CEO Kganki Matabane and Gloria Serobe a veteran in the black business known for her role as one of four co-founders of Women Investment Portfolio Holdings (Wiphold) – the first women’s investment group established post-1994 to list on the JSE – and her current role as CEO of Wipcapital, The Recipient of an honorary doctorate from Nelson Mandela Metropolitan University in 2021, Serobe also serves on several boards of various JSE listed companies

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Another member of the council appointed is Dr Nthabiseng Moleko a senior lecturer in managerial economics and statistics at the University of Stellenbosch Business School who is a proponent of finding solutions to Gender-Based Violence. In line with the legislation that applies to the Council, the presidency said, members were drawn from business, trade unions, community-based organisations and academia, and has broad expertise in major sectors of the economy.

According to the statement issued by the Presidency, eight of the 14 candidates are females. There is also provincial representation, sector expertise, gender and age were among the considerations that informed the composition of the Council. In response to the appointments Dr. Gil Mahlati · Chairman of the African Financial Group said, he welcomed the appointments and added that most of the groundwork in terms of legal requirements such as the BBBEE Act, Codes of Good Practice, the sector charters and the Employment Equity Act were already in place.

“What we need now are instruments and institutions to advance the transformation agenda of the country. The rules that govern BBBEE already exist. We just need the advisory council to ensure that the rules and regulations are implemented and monitored closely,” said Mahlati.

The full BBBEE Advisory Council appointed comprises:

1. Mr. Kganki Matabane, Chief Executive Officer of the Black Business Council (BBC);
2. Ms. Gloria Serobe, a veteran of a black businesswoman;
3. Dr. Nthabiseng Moleko, an academic and specialist on industrial development funding;
4. Ms. Sibongile Sambo, who operates a company in the aviation services sector;
5. Mr. Sibusiso Maphatiane, an industrialist who runs his own metal foundry business;
6. Mr. Ajay Lulu, a chartered accountant and B-BBEE specialist;
7. Ms. Louise Thipe, a senior leader in the labour movement;
8. Ms. Makale Ngwenya, a trade unionist and researcher;
9. Mr. Kashief Wicomb, who leads the Progressive Professionals Forum (PPF);
10. Dr. Lulu Gwagwa, an academic, spatial development planner and businessperson;
11. Mr. Thulani Tshefuta, who represents the community constituency and the youth movement at the National Economic Development and Labour Council (NEDLAC);
12. Mr. James Hodge, Chief Economist of the Competition Commission;
13. Ms. Khathu Lambani Makwela, a director of a company in the healthcare sector;
14. Ms. Irene Dimakatso Morati, an internal auditor.