In the News (145)
This candid look at the benefits which whites have accrued from Apartheid and which they are still enjoying in post 1994 South Africa lists 26 reasons why the mythical "white genocide" is in fact a display of "white fragility" and an expression of their fear which whites have of losing their white privilege.
The Department of Trade and Industry (the dti) will create a project management unit that will drive the implementation of the recommendations of the inaugural two-day Broad-Based Black Economic Empowerment (B-BBEE) Rural and Township Economy Summit that ended in East London today.
The Yebo Yethu shares have risen steadily to now trade above R100.00 per share. That alone makes for a capital gain of more than 300% excluding dividend payment.
Vodacom Group is winding up its broad based black economic empowerment deal (B-BBEE) and launching a new R17.5 billion chapter with a 10 years life span to 2028 in a series of complex actions.
There have been increasing calls in recent years for the asset management industry to transform, particularly regarding black economic empowerment.
The debate has ranged from a focus on the portion of assets that are managed by black firms to the proportion of black ownership in the industry.
Following the release of the report by the National Minimum Wage Advisory Panel, there has been much discussion about the level, and impact of the level, proposed by the panel. Surprisingly, there has been little, if any, debate on the panel’s proposal that the national minimum wage be based on an hourly, rather than a monthly, wage.
Coca-Cola Beverages SA (CCBSA) on Wednesday 28 March announced its commitment to divert R3.9 billion to assist black-owned and black women-owned organisations over the next three years.
Addressing a Gordon Institute of Business Science forum on innovation and broad-based black economic empowerment, Executive chairperson of Zungu Investments and member of the president’s black economic empowerment advisory council, Sandile Zungu said the introduction of the final regulations to the Broad-Based Black Economic Empowerment (B-BBEE) Act in June 2016 signalled a shift in Black Economic Empowerment.
The Broad-Based Black Economic Empowerment (B-BBEE) Commission has raised issues related to Sasol’s new Khanyisa empowerment scheme, Sasol company secretary Vuyo Kahla said on Friday.
The commission raised questions about the structure of Sasol Khanyisa’s employee share ownership programme as well as whether the Sasol Foundation was an appropriate vehicle for getting ownership credits, he added.
African Infrastructure Investment Managers (AIIM), a subsidiary of Old Mutual, has been accused of racism, intolerance and prejudice towards its female employees of colour.
Four women, who asked to remain anonymous for fear of further victimisation, wrote to Old Mutual two weeks ago to voice their concerns about about what they termed “bullying” and which they say the company had not responded to until on Thursday evening after the Cape Times sent Old Mutual questions.
Businessman Sandile Zungu has warned that big corporates are using community trusts as a sophisticated new way of fronting in BEE deals.
Zungu serves on the president’s Advisory Council on broad-based BEE (BBBEE), as well as on the Brics Forum, incorporating the five emerging economies of Brazil, Russia, India, China and South Africa.
Speaking at an event hosted by the Gordon Institute of Business Science in Johannesburg this week, Zungu said companies were making use of lawyers and accountants to conceal the actual beneficiaries in transactions that include community trusts.
Qoheleth, in the 12th verse of the fourth chapter of Ecclesiastes, a wisdom literature book in the Holy Writ, reminds us: “Though one may be overpowered, two can defend themselves. A cord of three strands is not easily broken.”
I thought of this archaic sacred text as I began to crystallise the reasons for Johann Rupert’s arrogance.
The South African political plateau confirms a shifting reality, yet the role of capital shows no real shaking - it defies all tremors. To fully appreciate the articulation of Rupert we must first appreciate the actual control apartheid and colonial beneficiaries have on the economy. The signpost of that constituency is none but Rupert, the face of apartheid accumulated wealth and the embodiment of a successful racist regime.
The Broad-Based Black Economic Empowerment (B-BBEE) commission plans to issue about 50 preliminary and final findings against companies for contraventions of the B-BBEE act, according to commissioner Zodwa Ntuli.
"White South Africans love to bash affirmative action. With a lot of the bashing being based on false information, we thought we would take a closer look" writes Nic Andersen in The South African.
Affirmative action, BEE, BBBEE, or maybe even white privilege. For many white South Africans, these are terms that irritate them or they’re “sick of” hearing about. If you’re one of those people, then you probably think affirmative action is “unfair”.
Before we dive into this, let’s look at why the Department of Labour says affirmative action is necessary.
Recently an academic article, asserting the historical benefits of colonialism, created an outcry and a petition with over 10, 000 signatures calling for its removal.
The Case for Colonialism, published in Third World Quarterly by Bruce Gilley, argues Western colonialism was both “objectively beneficial and subjectively legitimate” in most places where it existed.
Gilley, an associate professor of political science at Portland State University, claims the solution to poverty and economic underdevelopment in parts of the Global South is to reclaim “colonial modes of governance; by recolonizing some areas; and by creating new Western colonies from scratch.”