Time to scrap empowerment charters

There is a prevalent and lazy view that suggests we can address post-apartheid social ills in the economy by creating sector-based empowerment charters or codes.Those who believe in this approach err further by arguing that the alleged one-size-fits-all approach of the Broad-Based Black Economic Empowerment (BBBEE) Act’s generic Codes of Good Practice is inadequate and too blunt a tool to enable it to address various sector-specific nuances.