Yuneal Padayachy, The BEE Chamber (Pty) Ltd.’s Member Support Executive, is
dedicated to following his passion and motivating others. Yuneal has been in the
Broad-Based Black Economic Empowerment (B-BBBE) space for over a decade and we
at Africa Talks Business, are very eager to learn about his journey over the past decade.
Padayachy spoke exclusively to Africa Talks Business, “I really hope that I can change
the mindset of individuals when thinking of B-BBEE Transformation in South Africa. I
hope I can change this narrative that Transformation is about reverse racism or a
compliance exercise, but there is a bigger picture to think about.”
Just a background on you and how your journey started?
“I have had what I believe is the privilege of working in the B-BBEE space for 13 years. My
unique experience in this space stems from working within the B-BBEE Verification industry
whereby I would engage with organisations and facilitate the B-BBEE verification process. In
April 2010, I had started my career at SANAS Accredited B-BBEE Rating Agency on a
learnership programme as a Trainee Verification Analyst in the B-BBEE Industry. In November
2010, I was appointed as a Verification Manager to perform internal audits and have gained
valuable experience in the verification industry. I was involved in Verification
Analysis, Verification Management, and a part of Technical Committees in the B-BBEE
industry. In March 2013, I had joined another SANAS Accredited B-BBEE Rating Agency
and fulfilled the roles of a BBBEE Verification Analyst, B-BBEE Verification Manager, BBBEE
Technical Signatory and Operations Manager. In February 2015, I was employed as a
Senior BEE Audit and Business Development Manager at an IRBA B-BBEE Verification
Auditing Firm. I later moved on to the B-BBEE Policy Unit at the Department of Trade Industry
and Competition (the dtic) whereby I started to understand what the government is trying to
achieve for our country – inclusivity by allowing Black People to participate in the
mainstream economy. I gained a valuable amount of experience at the dtic which I will
never forget. I moved onto the South African National Accreditation System (SANAS) as the
Accreditation Manager for B-BBEE in which I had many fruitful engagements with B-BBEE
rating agencies. My main goal here was to try to bring about consistency in application of
B-BBEE Verification principles, calculations, and methodologies. In the past two years, I have
fulfilled a support role at the BEE Chamber as the Member Support Executive. This entails
engaging with large Entities and providing guidance, support, tools, and advice to assist with
their B-BBEE Transformation journey whilst managing risks. From an educational perspective, I
have obtained a B. Com Degree in Financial Management Sciences as well as a Master of
Business Administration (MBA). I have also completed the UNISA B-BBEE Management
Development Programme in July 2012 and was awarded the UNISA Board Award for the
highest average achieved in the course. Evolving from a retail working background during
completion of my studies, I strongly believe in excellent client service and strong communication
skills. I am a problem solver in the work environment and strive for perfection in all my
endeavors. I have sound work ethics and values in the work environment which ensures my
competence and consistency.”
What encouraged you to continue your education and earn your MBA?
“I felt like I was lacking something in my career from an educational perspective. I have always
had a passion for Business and the challenges that come with it. Not all businesses
are the same of course and it is really interesting to understand these different dynamics. The
main reason for pursing this was for Personal Development: I personally believe an MBA (which
it did in my case) can help you develop skills such as leadership, critical thinking, and
decision-making that are useful in both your personal and professional life.”
What is “Broad- Black Economic Empowerment” and why is it important in South
Africa today?
“Broad-Based Black Economic Empowerment (B-BBEE) is a crucial policy in South Africa as
it seeks to address the historical economic exclusion of Black People that occurred during
the apartheid era. This policy aims to promote economic transformation and create a more
inclusive economy by providing opportunities for Black People and businesses to participate in
the mainstream economy. By promoting the participation of Black People and businesses in the
economy, B-BBEE aims to achieve several objectives, including reducing inequality, promoting
economic growth, and fostering social cohesion. The policy provides a framework for companies
to contribute towards achieving these objectives by implementing measures such as Ownership,
Management Control, Skills Development, Enterprise & Supplier Development which includes
Preferential Procurement and Socio-Economic Development.”
With your current expertise, what significant impact do you hope to have in South
Africa?
“I really hope that I can change the mind set of individuals when thinking of B-BBEE
Transformation in South Africa. I hope I can change this narrative that Transformation is
about reverse racism or a compliance exercise, but there is a bigger picture to think about.
Inclusion of the majority of the population, which are Black People, into the mainstream
economy. This is one of areas that will assist our Country to grow economically. People make
decisions that have an impact on people’s livelihoods – I would appeal to those individuals to not
be a Barrier to Transformation but rather an Enabler.”
What do the majority of South Africans need to know about your industry, given
your 13 years of experience?
“B-BBEE has garnered reputational damage over the years as tenderpreneurs, profit-driven
joint venture agreements, and questionable ownership schemes drive the transactional
approach to B-BBEE. Unfortunately, they have outshone the meaningful and sustainable
impact it has had on organisations and Black People alike. However, regardless of which
approach organisations take, one must remember that B-BBEE legislation guides
organisations. Still, people of all races and genders either embrace it or circumvent it. There has
also been a negative message associated with B-BBEE. A comment around B-BBEE that I have
heard many times is: “A black-owned entity has won a tender, this must have not been correct,
and corruption has taken place.” What many do not understand is that corruption has no colour
– People act or engage in corrupt activities and those individuals need to be held accountable.
Therefore, associating corruption with B-BBEE is nonsensical and is not needed for our country.
It is essential to accept that B-BBEE is an economic policy that aims to invite more people into
the economy. South Africa’s B-BBEE legislation globally is unique. The B-BBEE Industry
consists of quite a number of role players. The first sphere is the Company or Measured Entity
implementing a B-BBEE Strategy that will have impact on Beneficiaries. This is where the real
impact takes place and where Companies have the power to make a difference. The second
sphere represents B-BBEE Consultants, who guide organisations in developing and
implementing initiatives to feed their B-BBEE Scorecard as well as B-BBEE Rating Agencies
that then verify these results based on the evidence provided. Important to note that the
B-BBEE Consulting Industry has no regulatory requirements whereas the B-BBEE Verification
Industry does. The third and last sphere in the B-BBEE space consists of the dtic, specifically
the B-BBEE Policy Unit that establishes B-BBEE Policy through the Minister of Trade, Industry
and Competition; SANAS, who oversees the standards to which B-BBEE Rating Agencies
operate; and the B-BBEE Commission, whose mandate is to oversee the fair, meaningful and
sustainable implementation of B-BBEE in line with the B-BBEE Act (The Act) as well as report
on the state of Transformation in South Africa and conduct investigations into alleged Fronting
Practices.”
What advice would you give to a South African striving to work in your field?
“Individuals currently working or planning to work in the B-BBEE Industry have a significant
role to play. We are not the Entities that have the financial means to implement initiatives
that will have impact, but we definitely play a role in respect of providing advice & guidance
to those that have the financial means. I appeal to all to ensure that the advice & guidance
provided is sound that speaks to the objectives of B-BBEE rather than circumvention.
Furthermore, in the B-BBEE Industry, Competence is of the utmost importance. B-BBEE
Legislation is quite complex, and many issues are identified when Companies have been ill
advised or unfairly verified because of the lack of competence. “
Find out more about Yuneal on Linkedin:
LinkedIn:
https://www.linkedin.com/in/yuneal-padayachy-mba-a7a43269?lipi=urn%3Ali%3Apage%3Ad_fla
gship3_profile_view_base_contact_details%3BEyHE%2FAoyStmBWfdVvfT0YA%3D%3D
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