Former Reserve Bank Deputy Governor Kuben Naidoo has backed entrepreneur Alan Knott-Craig’s proposal for a new tax or voluntary levy to fund black economic empowerment (BEE).
Last year, Knott-Craig, who founded Herotel and Fibretime, submitted a new BEE plan to South Africa’s Minister of Trade and Industry, Parks Tau.
His proposal is for companies to pay a 3% levy on revenue, which, in turn, will provide them with a Level 3 B-BBEE certificate.
Sam Busa