Gary Player tees off on B-BBEE: Golf legend says policy is scaring off investors
Renowned South African golfer Gary Player has called for an urgent repeal of the Broad-Based Black Economic Empowerment (B-BBEE) Act, underscoring his belief that it is a significant barrier to attracting investment in South Africa.
Player, widely celebrated as the country’s greatest sportsman, expressed his views during a weather delay at the Gary & Vivienne Player Invitational at Sun City, marking his 90th birthday.
As both a farm owner and a keen investor, Player is particularly concerned about the implications of the B-BBEE policy, which is designed to redress historical inequalities but has drawn criticism for hampering economic growth.
He further highlighted his discontent with the Expropriation Act, which allows for land confiscation without compensation under certain conditions—a law that has been signed into legislation but has not yet been implemented.
“South Africa, we’ve got problems. Got big problems,” Player articulated, referencing his personal experience with the government’s policies.
“Introducing a bill with no compensation gives the impression that they [the government] could come and take it. That means they’re stealing it. We’re discouraging people to invest.”
His comments reflect a deep-seated concern that current government policies dissuade not just local but international investors from bringing much-needed capital into the country.
Player has reportedly approached government officials regarding his concerns but has met with indifference.
“They weren’t listening; they don’t listen,” he lamented, reiterating his belief that transformative change is necessary.
“We’ve got to have systems like the rest of the world, where you encourage people to come and invest.”
Turning his attention to the social climate of South Africa, Player addressed alarming rates of crime and unemployment, describing a nation struggling under the weight of severe economic challenges.
“Our crime is the highest in the world. We’ve got 20 million squatters; they won’t admit it, but we’re a land of squatter camps now,” Player said.
“What about our young people that are graduating? They can’t find a job. It’s dangerous. That’s very dangerous.”
His call for reform is underpinned by a vision for a country where the needs of the populace shape government policy, rather than policies based solely on ideological grounds.
“We can’t just do what we think is right, because it suits us,” he stated. “We’ve got to do things that suit the people of our country.”
IOL