When 46 individuals capture over half of all BEE mining deals, the grand illusion of economic transformation is completely shattered.
This is not empowerment. It is institutionalised kleptocracy disguised as social justice.
The BEE has functioned as a closed loop syndicate for a tiny, politically connected elite.
In South Africa, you do not achieve success through operational excellence, mineral innovation, or capital efficiency. You achieve it through proximity to the ruling party's deployment committee.
Forty-six ANC cadres get unimaginably wealthy by simply signing their names on ownership certificates, while the actual miners and surrounding communities continue to live in absolute squalor.
Global capital and serious mining houses look at South Africa and see an uninvestable landscape. They are forced to hand over massive equity chunks to non-productive political cronies just for the permission to build.
Instead of investing profits back into advanced machinery, geological exploration, and stable logistics, billions are siphoned off into luxury estates and foreign bank accounts.
When a regime treats its national resources as a private treasury for a selected few, it has surrendered all moral legitimacy to govern.
@DrClownPhD@Porschephile_1 The Dunning-Kruger effect is a well-documented cognitive bias in which people with low ability, knowledge, or competence in a particular domain tend to overestimate their own skills and performance. They literally don’t know enough to recognize their own incompetence.
@BarneySimon Fully agree. All social media platforms should be banned for children under 17. Current research shows how damaging it is to children’s neurological development and health. It’s like chucking the keys to your Hilux to your 9-15 yr old and saying “go have a spin on the highway”.
Ask an honest analyst or economist about South Africa’s poorly performing economy, and they’ll tell you that the problem is the South African government with its anti-growth policies and attitude. They’ll point to burdensome regulations, high taxes, lawlessness, and so on. The problem is the government in South Africa. #economy #politics #markets
According to Corruption Watch, South Africa went from being one of the least corrupt countries in the world in 1995, ranking alongside Belgium and Japan, to one of the most corrupt countries in the world, ranking alongside Cuba and Kazakhstan in 2026.
R13.2 billion. R13.2 billion. That is the sum total write-off by the City of Joburg, led by the corrupt ANC coalition.
"R13.2 billion in unauthorised, irregular, fruitless and wasteful expenditure that the City of Johannesburg wrote off or regularised during the 2024/25 financial year."
This is the money meant to fix your potholes, the antiquated water pipes, the unstable electricity supply, the street lights. All gone. Disappeared into thin air or into back pockets. All this while the COJ jacks up rates to exorbitant levels.
The ANC leadership, along with their corrupt and incompetent coalition partners, do not care about the residents. They are more worried about getting the money into their own back pockets.
Property rates rise by 3.6 percent which is the lowest increase with the first 300000 rand of residential property value exempt. Electricity goes up by an average of 8.63 percent for households driven by Eskom bulk costs. Water increases by 12.5 percent driven by Rand Water. Sanitation or sewer rises by 11 percent. Refuse removal increases by 6.2 percent.
These hikes come on top of the City's chronic service failures, massive write-offs, and huge internal losses (water around 44 percent, electricity around 27 percent). Residents get hammered with higher rates while potholes, water pipes, electricity, and street lights continue to collapse. The ANC coalition's idea of financial recovery seems to be squeezing residents harder instead of fixing the rot and stopping the theft.
Vote Greater ANC at your own peril!
#SAElection2026
Source: https://t.co/nZxMBX0A9j
🚨 PIC Isibaya Fund Bombshell: R3.6 BILLION in Public Pension Money Wiped Out
The PIC’s “developmental” Isibaya Fund - tasked with BEE and transformation deals - just wrote off investments in multiple companies delivering -100% IRR. Entire capital gone.
Pensioners’ savings funding high-risk empowerment projects with massive impairments. Parliamentary red flags, governance failures, and a pattern of losses stretching back years.
Question: Are BEE policies actually building sustainable black-owned businesses… or destroying value while enriching a few?
South Africa can’t afford feel-good investments at the expense of workers’ retirements.
Time for a hard audit and honest debate on results vs rhetoric.
What do you think? 🇿🇦
#PIC #BEE #SouthAfrica #PensionScandal
(Share this post if you want real economic accountability in South Africa)