Sara-Jayne Makwala King13 May 2024 | 5:26

ActionSA will replace elitist BBBEE with ‘Inclusive Economic Empowerment’ – Herman Mashaba

Herman Mashaba will lobby businesses to contribute 5% of profits annually to an 'opportunity fund' to support its 'Inclusive Economic Empowerment ' policy.

ActionSA will replace elitist BBBEE with ‘Inclusive Economic Empowerment’ – Herman Mashaba

ActionSA leader Herman Mashaba. Picture: Katlego Jiyane/Eyewitness News

ActionSA leader Herman Mashaba joins Ray White.

Listen to the full interview below.

ActionSA leader Herman Mashaba claims the party's IEE (Inclusive Economic Empowerment) policy will unite South Africans.

It's one of the policies the party is hanging its hopes on come 29 May, when South Africans head to the polls.

Mashaba says IEE would replace the BBBEE (Broad-Based Black Economic Empowerment) initiative introduced in 2004, ensuring that 'black economic empowerment happens'.

"Because Black, Indian and Coloured people are not poor because they naturally wanted to be poor."
- Herman Mashaba, Leader - ActionSA
"We as ActionSA don't want to discriminate against South Africans along racial lines, but at the same time we address the past and what the National Party practised."
- Herman Mashaba, Leader - ActionSA

Mashaba says BBBEE has benefitted a 'connected few' in the political elite.

ActionSA wants to introduce a so-called 'opportunity fund'.

"An opportunity fund run by professional fund managers where big businesses contribute 5% of their profits on an annual basis, and our role as politicians is to direct where this money must be used."
- Herman Mashaba, Leader - ActionSA
"This money must be in Black, and Coloured communities."
- Herman Mashaba, Leader - ActionSA

Scroll up to the audio player to listen to the interview.