Rob Rose: BBBEE Hurts SA Business

Listen to this episode from State of the Nation on Spotify. South Africa has talent, capital markets and great companies—so why are we stuck below 1% growth? Rob Rose (founder/editor of Currency News, ex-Financial Mail) joins Mike to strip away spin and map a practical path back to growth. We dig into mixed policy signals that repel investment, how BEE has actually operated in practice, the new employment-equity quotas vs real skills, de-industrialization (steel, autos, ports, power), mining rules that punish exploration risk, and the Starlink licensing own goal. We also zoom out: US–SA trade tensions and tariffs, why China won’t “save” us, BRICS vs the dollar, global debt and what sovereign defaults teach us about credibility. Then we get solutions: scrap counterproductive quotas, allow equity-equivalence, clean up municipal basics, fix mining/spectrum rules, and compete—relentlessly—for capital. A small slice of global flows would transform SA; here’s how to win it.Chapters:00:00 – Intro & Sponsor (Pace Car Rental + subscribe call)01:08 – Why SA growth feels “stuck” despite real strengths04:12 – Mixed signals to investors: Mantashe vs “open for business”07:05 – Generations that have never seen real growth09:02 – Jobs vs meaning: why policy talks past aspiration11:10 – BEE in practice: who benefited and how it hurt meritocracy15:18 – Employment-equity quotas vs skills reality (and growth)18:44 – Foreign investors want returns, not sentiment20:36 – Starlink & licensing: case study in self-sabotage23:15 – US–SA trade friction, tariffs & non-tariff barriers26:48 – De-industrialisation: power, ports, steel (ArcelorMittal) risks30:22 – Mining policy & exploration: 100% risk, 74% upside?33:41 – Municipal collapse as a growth bottleneck36:09 – China, BRICS & the dollar: why Beijing won’t “save” SA40:25 – Global debt, inflation & why defaults crater credibility43:18 – Who’s owed? Bonds, banks & your pension exposure45:42 – Low-hanging reforms that move GDP fast50:03 – Local elections & policy reality checks ahead53:10 – Opportunity cost: how little SA needs from global flows56:02 – Closing: solutions, optimism & CTA (subscribe + Pace code SONA)Join the movement for a better South Africa.Don’t just complain get involved, share this conversation, and subscribe for more State of the Nation insights.Follow @sonacoza on TikTok, Instagram, X, and FacebookProduced by Stream In Studios – https://www.streamin.co.zaDon’t forget to subscribe for more political insightThe State Of the Nation is Proudly Sponsored by Pace Car Rental Use Code : SONA for a discount today!https://www.pacecarrental.co.za/To donate to help keep The State of the Nation going, click here:https://sona.co.za/index.php/donate/