Black Economic Empowerment - here's how to do it

When Government backbencher Renee Webb got up on Friday and said that Government needs to institute a policy to empower Bermuda's blacks, she had a specific strategy in mind.

She pointed out that most developed nations including the US, Canada, the UK and almost all Europe, have such legislation in place. Of all the models she's looked at she said she's most impressed with South Africa's Broad-based Black Economic Empowerment Bill which can be found online at www.gov.za/gazette/bills/2003/b27-03.pdf

The South African Bill has as its objectives to -(a) promote economic transformation in order to enable meaningful participation of black people in the economy;

(b) achieve a substantial change in the racial composition of ownership and

management structures of existing and new enterprises;

(c) increase the extent to which communities, workers, collective enterprises and

cooperatives own and manage existing and new enterprises;

(d) promote investment programmes that lead to broad-based and meaningful

participation in the economy by black people in order to achieve sustainable

development and general prosperity; and

(e) develop rural communities and empower local communities by enabling

access to economic activities, land, infrastructure, ownership and skills.

So impressed is Ms Webb with the legislation that she feels Bermuda should simply adopt it.

"I think it could be almost a cut and paste matter," she said.

But she also feels strongly that the Commission for Unity and Racial Equality (CURE) should be doing this sort of research and advising Government.

"CURE has a role to play it needs to do more than taking surveys. It needs to be advising Government what to do to end it ( economic racial disparity)," she said.

The latest CURE report shows a significantly higher proportion black Bermudians earn less and are more likely to be fired from their jobs while a significantly higher percentage of whites are in managerial and professional jobs and earning $70,000 and higher.

Admitting that at some point the two parties will need to address the issue together, Ms Webb applauded the Opposition for creating a portfolio to look at it now.

"I am very happy to see the UBP addressing the issue with the appointment of David Dodwell," she said, "I'm sure he is very capable."