In short, their value will be doubtful. It now wants to devise a method that is objectively measurable and that will hold up under attack. But to achieve this, it now asks each fishing sector to devise its own definition of transformation. That's begging for trouble. Coincidentally, this report highlights questions that must be answered on a national level and which apply as much to minerals as to other natural resources.
Fishing is an industry bedevilled by well- intentioned but misguided management.
In a sense, it encapsulates many of our common problems - the macro issues have been brought largely under control, but the micro management has gone to pot. There's nothing like taking every opportunity to run for cover. It's a bit disappointing, though, when the directors seeking shelter include those among the most powerful protagonists for change. Last year, the Johannesburg Securities Exchange said directors had to disclose directors' emoluments in annual financial statements. After a tidal wave of objections, the JSE agreed to defer introduction for another six months.