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.
Unless Cyril plans on announcing his resignation, I don’t want to hear a single word he has to say. No one irritates me more than this arrogant, sanctimonious BEE beneficiary.