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.

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.

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.

By nature and convention, businesses struggle to be altruistic. The profit motive is built into legislation all around the world. Profit is hard-won and ‘giving it away’ is counter-intuitive.

It takes a fresh way of looking at things to enable business to automatically serve a social need while doing business as usual.

White Monopoly Capital No PR Ploy

Tuesday, 26 September 2017 13:33

Recent revelations by the Statistician-General Pali Lehohla on poverty and economic growth trends clearly show that indeed there is still validity in calling for total economic transformation in South Africa.

Lehohla’s assertion that more than 30 million South Africans live in poverty should make us stand up and do more to address the poverty and social inequality time bomb in our midst.

Black participation in the Johannesburg Stock Exchange continues to be the topic of heated debate in South Africa. This guide explains the different estimates and the methodologies used to arrive at them.

When the president’s estimates of the share of the Johannesburg Stock Exchange (JSE) owned by black people jumped from 3% to 10%, a South African commentator took notice.

German-based enterprise software firm SAP unveiled a new empowerment deal which aims to achieve a 30% Black Ownership target in the BBBEE codes applicable to all South African IT companies.

SAP unveils second South African empowerment deal
By Gugu Lourie

In a move signaling its commitment to South Africa, SAP SA, a unit of German-based enterprise software firm SAP, is strengthening its Broad-Based-Black-Economic-Empowerment (BBBEE) credentials by concluding another empowerment transaction.

SAP South Africa will issue 19.5% shares to The SAP South Africa Empowerment Trust, the beneficiaries of which are previously disadvantaged black students. These beneficiaries will use the dividends received from SAP South Africa to pay for studies facilitated by the Maharishi Institute.

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