Article by Terrance M. Booysen and reviewed by Bulelwa Mabasa (Werksmans: Partner)
In his State of the Nation Address in 2017, President Jacob Zuma noted the intention of the South African government to influence the behaviour of the private sector and to drive economic transformation. He stated that this objective would be achieved through the government playing a role in the economy through legislation, regulations, licensing, budget and procurement, as well as Broad-Based Black Economic Empowerment (‘B-BBEE’) imperatives.
It is reported that Benjamin Franklin (1706-1790) -- being one of the people who drafted the Declaration of Independence, including the Constitution of the United States of America -- once said; “If you want something done, give it to a busy person.” Indeed, this axiom is entirely fitting in respect of South Africa’s very own Professor Michael Mervyn Katz. Professor Katz is renowned for his illustrious career which spans a period of almost 50 years, where he specialises in corporate and commercial law.