Subject: BMF withdrawal from BUSA - statement

The BMF board in its meeting of the 25th June 2011 unanimously resolved to withdraw its participation in BUSA with immediate effect. Amongst the reasons cited was the fundamentally flawed structure of BUSA where Black Business voice is permanently outnumbered and suppressed.

Of the about fifty organisations comprising BUSA, Black business has no more than ten votes, thus with one organisation one vote there is no way Black Business could ever have its voice heard on transformation issues.

Over the years it became very evident that indeed there was no shared agenda on transformation despite the existence of a standing committee on transformation and various undertakings. The recent anti transformation pronouncements of BUSA on the Labour Law reforms, Labour brokers and the hypocritical stance on good governance on the CEO appointment process are just examples on how far behind BUSA is on embracing transformation and good governance.

Even at Nedlac the only issues that BUSA ever support are Big Business issues to the total marginalisation of Black professionals interests and small to medium size businesses. The BMF can no longer condone the fake unity as represented by BUSA and our continued stay in BUSA would be tantamount to selling out.

The BMF will engage other stakeholders in a bid to map out a strategy for life after BUSA. The BMF continues to be committed to a united and inclusive business voice that takes into account the diversity of the business components and the apartheid past into account. The BMF will call for an urgent Black Business summit In August in Limpopo to map out the future of a truly united business voice in South Africa.

Statement issued by Ms. Tembakazi Mnyaka, Deputy President, Black Management Forum, July 4 2011

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