Promotion of Economic Development of Homelands Act
The Promotion of Economic Development of Homelands Act ( Act No. 46/1968 ), German for example: Law to promote economic development in the Homelands , was a South African law within the framework of apartheid policy . This should enable the president to set up agencies with special tasks for economic development in the homelands . The regulations provided for state control of private white donors who wanted to invest in the homelands.
aims
The corporations possible under this law (companies in the sense of commercial law) should support all companies in industry, trade, financial services and the mining sector in accordance with the stipulations of their board of directors , i.e. on the basis of the economic policy guidelines of the apartheid doctrine. The respective board of directors was composed of white representatives, for whom the right of appeal lay with the Minister for Bantu Administration and Development . An advisory board made up of black people was to be created for each of these management bodies, the selection of which had to be coordinated beforehand with the highest authorities in the homeland areas.
The areas of responsibility of the corporations possible under this law included activities for planning, financing and implementing or supporting projects for economic development. In order to achieve these objectives, it was permissible to contract external legal entities such as agencies. The necessary instructions were given by the Bantu Investment Corporation . The minister responsible decided on the share capital that all shares should be transferred to the South African Bantu Trust when it was founded.
The law set some specific political norms. It was not allowed to serve foreign interests and it should be avoided in the workplace development that a large number of white employees could accumulate. On the other hand, selected blacks should be trained to increasingly be given managerial tasks. The contracts with external consultants should only be concluded for a limited period.
In a parliamentary speech on February 7, 1969, Prime Minister Balthazar Johannes Vorster emphasized that the contracts to be concluded with future agency partners should have a longer term, for example 25 years for labor-intensive industrial sectors or 50 years for mining companies . A government spokesman responded to the criticism of some members of parliament on this law by pointing out that the intentions of the government were comparable to the activities of Anton Rupert , whose undertakings were also examples of the partnership between black workers and the capital and know-how of whites. The MP Helen Suzman commented in their opinion, entering practice opportunities of the law, according to which it was highly unlikely, white contractor for a philanthropic winning adventure. The Minister for Bantu Administration and Development , Michiel Coenraad Botha , and his deputy Piet Koornhof viewed the intended establishment of advisory bodies made up of black staff critically. In their opinion, the most important problem would not be a lack of capital, but rather finding suitable black people with training.
A foundation under this Act, may be the only was that the Bantu Mining Development Corporation in March 1969. It was at its launch with a share capital of 500,000 Rand equipped, which rose to 1,651,976 edge to 31 March 1972nd
literature
- Muriel Horrell : The African Homelands of South Africa . Johannesburg 1973, pp. 71-72 ISBN 0869820699
Individual evidence
- ^ SAIRR : Survey of Race Relations in South Africa 1968 . Johannesburg 1969, p. 149
- ↑ Horrell. Homelands, 1973, p. 72
- ^ SAIRR: Survey 1968 . Pp. 149-151
- ↑ Horrell. Homelands, 1973, p. 73