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Mbalula defends BEE and says South Africa needs more black billionaires

Posted on January 9, 2026
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ANC says transformative laws are necessary to bridge the gap between black people and white people.

ANC secretary-general Fikile Mbalula says most wealthy people in South Africa are white, with the exception of mining magnate Patrice Motsepe.

He said the country’s transformative laws, such as broad-based black economic empowerment (BBBEE), remain necessary to address inequality between black and white people in South Africa.

He was speaking in Polokwane on Wednesday at an event commemorating the life of ANC stalwart Peter Mokaba.

“The biggest beneficiaries of BEE [black economic empowerment] in a democratic state [are] white people, who [are] doing business post democracy on the continent.

“Who are the billionaires in the economy, except Motsepe? They are all white. Our only billionaire is Motsepe; it’s only him with a lot of money. Besides that, we have [Johann] Rupert and other white people who are benefiting from this country’s economy,” he said.

Mbalula said the ANC notes the US’s discomfort with South Africa’s transformation laws, while stressing that they remain necessary to balance the scales.

“How do we get rid of black economic empowerment when transformation has not arrived? The struggle is not yet over.”

ALSO READ: WATCH: ‘We are not worried about a US invasion of South Africa’ – Ramaphosa

Inequality in SA

Mbalula says inequality between black and white people in South Africa can still be seen through the lived experiences of most people in the country.

“Have you ever seen a white homeless person? The homeless are black. Have you ever seen an unemployed white person? Or have you ever seen a white person staying in a shack?” he said.

Mbalula maintained that there is no white genocide in South Africa and dismissed claims that minority groups in the country are being ill-treated.

BEE has become a big debate in the country, and the ANC, with some recognising its weaknesses and how it has benefited the politically connected elite.

Alternative to BEE?

The DA has proposed an alternative to BEE, which it calls the Economic Inclusion for All Bill, and it is seeking ANC support for its adoption.

It says the proposed bill will boost investment and will not discriminate against any South African. The party believes its bill can create jobs and grow the economy.

NOW READ: Mbalula reveals shocking state of ANC support: Is the ANC becoming a rural party?

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