Blacks 'kept out of SA boardrooms'

[surface]

http://business.iafrica.com/news/379884.htm

 

[chiskop]

Bonorchis said a study of 50 of some of the largest and most influential listed companies showed little had changed in the last dozen years.

Of a total of 697 directors, 66 percent are white and only 28 percent were black while the rest were from other ethnic minorities.

Thanks.

I saw this article in (of all places) The Citizen this morning, but couldn't find an online copy.

 

[simple_simon]

this highlights the problem with the philosophy behind BEE.

i can't remember the oppenheimers sharing their wealth with me during apartheid. nothings changed.....its an old boys club and has been for centuries. an unfortunate trait amoungst the majority of rich people in the world is not to share with others.

the fundamentals underpinning economic policies on the planet at the moment is to create a system where there is have and have nots.....until this entire system changes....south africa cannot expect to change....only move a few old white farts off the boards and replace them with old black farts.

 

[MailMan]

The world won't or will get a better place because of some stone rich people,
to judge on them as 1 group and not indivuals some and some not will get the
credit which they deserve.There is without a doubt all sorts of things wrong
but don't blame your own misery on someone else, the number of opportunities
are countless and there is nothing what stops you to succeed.

 

[orin76]

i can't remember the oppenheimers sharing their wealth with me during apartheid.

LOL

 

[Paul_S]

Nearly half of the richest people in SA are black and we have a booming middle black market at the moment. One just has to look at the retail and building sector to realize this.
Woolworths, P&P, Edgars, etc. aren't expanding like they are to service a nearly static white population - that's for sure.

In other words there are lots of black people with the finances to start their own empires but not many of them do. Why don't they? If they did the imbalance would be sorted out pretty fast.
I guess it's easier to expect things to be given to you instead of having to work for it.

 

[orin76]

In other words there are lots of black people with the finances to start their own empires

Not really. There's just a lot of black people with credit

 

[Paul_S]

Not really. There's just a lot of black people with credit

Ah yes ... good point.
So 5 years from now they'll be off even worse than before and the white managers who run the P&Ps, Edgars, etc. will be even better off at their expense.

This is one mess that doesn't look like it's going to sort itself out even with BEE/BBEE policies.

 

[surface]

i can't remember the oppenheimers sharing their wealth with me during apartheid. nothings changed.....its an old boys club and has been for centuries. an unfortunate trait amoungst the majority of rich people in the world is not to share with others.

I agree. Old boys club has been for centuries. Maybe BEE helps it spread old boys club across racial boundries? [This doesnt make it right, of course] )

 

[DigitalSoldier]

I agree. Old boys club has been for centuries. Maybe BEE helps it spread old boys club across racial boundries? [This doesnt make it right, of course] )

True, but the more I read about governments BEE policy they dont want companies to share the wealth but rather do everything possible to get the wealth out of the hands of white people.

http://mybroadband.co.za/vb/showthread.php?t=57768

"We need to be very careful with the 'once-empowered, always-empowered' principle. In its implementation, care should be given because this could result in the economy remaining in white hands," Vundla said.

I would also really be interested to find out if this new generation of middle class black people really just want to milk the corporations or rather just want a job and contribute to the economy ?

Also from what I can see and read those "old boys clubs" dont have anything to do with race at all and these people are not willing to share there wealth with either black or white and its also happening all over the world.

 

[telkomsuig]

All I am going to say...there is alot of black capital now. Start your own companies if you more black people in boardrooms...

Stop begging and start creating wealth...

 

[surface]

You guys have it so easy here. For those interested for comparison (very few i am sure), just a overview. See if this doesnt make your head spin.

Reservations in India (applicable to government jobs & education institutions)

22.5% for scheduled caste (dalit) and scheduled tribe (adivasi) students.
(15 % for SC and 7.5% for ST) It has been proposed to raising this to 49.5%, by including 27 % reservation for OBCs

Gender (Around 30% seats reserved for females in many institutions)

Sons/Daughters/Grandsons/Grand daughters of Freedom Fighters

Physically handicapped

Sports Personalities

Non-Resident Indians (NRIs)

Candidates sponsored by various organisations

Those who have served in the armed forces (Ex-Servicemen quota) in jobs

Dependants of armed forces personnel killed in action

repartriates

Those born from inter-caste marriages

Widows and deserted women

Some states have 5% reservations for Muslims which has been contested in the court

Some states have 12% reservations for Muslims (not contested)

 

[chiskop]

Thats very interesting - I hadn't know about Reservation - wikipedia ref

BTW, OBC=Other Backward Caste for those. like me, that couldn't figure it out. A ridiculous acronym.

 

[orin76]

All I am going to say...there is alot of black capital now. Start your own companies if you more black people in boardrooms...

Here Here! This statement applies to ALL South Africans. Instead of BEE, we need schools to teach business skills like drawing up business plans, basic accounting, how the various financial structures work etc.
We also need laws that allow SME's to compete. Currently laws in South Africa favour extablished corporates. We also need to increase our internet penetration. It doesn't take much money to start a successful internet business if you have a good idea. You just need cheap bandwidth and a large internet market.

Just my few cents worth.

 

[DigitalSoldier]

What about just splitting telkom in more than one corporation and then creating a few more black directors

 

[dlk001]

I couldn't agree less with orin76. Education and Access to Information is one of the biggest empowerments deals that would benefit the masses.

Opportunists are in every race. Every race has found loopholes in the BEE policies and is abusing them. What seem to make headlines are always the politicians who “instantly” benefit from these deals. Look behind most BEE deals and you will find many other beneficiaries.

What I’m really opposed to is the abuse of State Resources to benefit few individuals (Black and White). That has been the downfall of BEE. “A Nation dies because of one person – Isizwe sifa ngomuntu omunye”.

 

[orin76]

I couldn't agree less with orin76.

Education and access to information were points I also mentioned (although in a slightly different way). I'm struggling to see what you disagree with.

 

[surface]

Education and access to information were points I also mentioned (although in a slightly different way). I'm struggling to see what you disagree with.

He agrees with you wholeheartedly, I think. [Hint: 2 negatives make positive. ]

 

[telkomsuig]

Education is one thing...the safety net of guaranteed wealth if you are black and educated should be taken away and be replaced with incentives for starting new businesses ie. easy access to capital/tax incentives etc.

 

[ubberfunk]

don't blame your own misery on someone else, the number of opportunities are countless and there is nothing what stops you to succeed.

ERRR what planet you from? been in the posistion i am id like to let you know the stongest survive and you speak of opportunities!? what opportunities do you speak of?? cos i for one would like to know myself of these "opportunities".

please do pray tell!