Abstract: Economic Empowerment and Performance: Strategies toward Indigenisation/Black Economic Empowerment and the Performance of Such Enterprises in Nigeria and South Africa, from the Early 1970s to 2002

Grietjie Verhoef

Abstract

The post-colonial African states embarked on programs to transfer ownership of assets in their economies to the indigenous population. Such a strategy was implemented in Nigeria, which was a British colony, as well as in South Africa. The paper traces the strategy toward such transfer of ownership in Nigeria and South Africa. It is argued that the state-driven strategy of Nigeria defeated the object of economic growth and ran into serious problems with the financing of the process. In South Africa a different strategy of Black Economic Empowerment was adopted. The paper tracks the progress of the program and assesses the sustainability thereof. Reference is also made to the current policy development in South Africa and the link between NEPAD foreign investment and the South African strategy.