Deputy President Paul Mashatile gave a speech at the Black Business Council dinner, highlighting the success of black economic empowerment initiatives. He expressed concern about the low participation of women in the economy. Mashatile noted that a small percentage of board members in JSE-listed companies are female, and many have no female representation at all. He also mentioned that women experience higher unemployment rates and earn less than men. The government aims to improve the implementation of black economic empowerment and has seen progress over the past two decades. There are now approximately 2.5 million black-owned businesses in South Africa, accounting for a significant portion of GDP. However, Mashatile emphasized the need to strengthen and streamline the execution of black economic empowerment policies for better results. He also mentioned that many companies are not reporting their black economic empowerment transactions to the government, which is a legal requirement. Mashatile urged social partners to work together for the success of these policies.
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