Black economic empowerment policy in Durban, eThekwini, South Africa: economic justice, economic fraud and ‘leaving money on the table’

Abstract

Black Economic Empowerment (BEE) policy in South Africa is intended to mitigate the economic disadvantage of apartheid and contribute to inclusive growth and development. This article examines perspectives on BEE from economic actors and accreditation agencies in eThekwini between 2012 and 2016. The article finds that BEE policy has contributed to building a political economy of connectivity and concession embedded in localised categorical framings of race, class and gender, where some economic fraud and corruption has taken place. However, BEE has also contributed to growing a black capitalist class which eschews political concession and identifies with market-based economic transformation.