“We agree entirely with ...President (Thabo Mbeki) that empowerment is essential for the economic growth of our country and businesses like Sasol. Sasol, as the single largest investor in the South African economy, considers BEE (black economic empowerment) and transformation as economic imperatives,” Sasol's chief executive, Pieter Cox, said in a statement.
His words followed remarks by Democratic Alliance leader Tony Leon who said Mbeki had “once again” used selective quotation, exaggeration and “the race card” – this time in response to large corporations’ remarks on black economic empowerment.
“In Friday's edition of his weekly letter, ANC Today, President Thabo Mbeki accuses Sasol and Barloworld of bigotry for their comments on black economic empowerment. Once again, the president has used selective quotation,” said Leon.
“Neither company was attacking black economic empowerment. They were simply identifying the risks associated with the government's empowerment policies,” he said in a statement.
“It seems that the interpretation of wording necessitated by the legal formalities of our New York Stock Exchange listing has unfortunately been taken out of context and is creating an impression that we are less than committed to all aspects of BEE.
“These impressions are completely inaccurate. We see BEE as essential for stability in the country and a crucial imperative of Sasol's own growth strategy,” said Cox.
Barloworld, also caught up in the fray, said: “Empowerment has a negative impact on productivity, on the cost of business and, therefore, on the competitiveness and profitably of companies.” – Sapa.
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