Only South Africa's elite benefits from black economic empowerment—and COVID-19 proved it

More than two decades ago the South African government put in place a policy designed to redress racial imbalances in the country’s economy. But, as I suggest in a recent paper, the policy—known as broad-based black economic empowerment)—has been hijacked and repurposed by individuals and factions within the ruling African National Congress (ANC) for the purpose of corruption and self-enrichment.

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