The discourse on racial transformation overlooks the fact that any widespread advancement,
especially Broad-Based Black Economic Empowerment, is possible only if there is increased aggregate
wealth and prosperity. Interventions such as the 2018 BBBEE Codes of Good Practice, thus cannot
possibly achieve their objectives unless accompanied by related policies that result in high rates of
economic growth which is (a) sustainable and (b) reaches most citizens.
In other words, BBBEE interventions on their own run the risk of creating a misleading impression that
it can achieve empowerment, whereas it is inherently incapable of doing so in the absence of policies
not addressed in the particular law or regulation itself.
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