Discovery Bank's "no whites" share plan under fire

[Bradley Prior]

Discovery Bank's "no whites" share plan under fire

Trade union Solidarity has launched a campaign against Discovery Bank’s share plan where black clients will receive 10% of the shares in the bank.

Discovery Bank was officially unveiled in November 2018, offering a completely digital banking service with products designed to improve the money management of clients.

 

[Aghori]

How about Discuckery address unequal racist EE/AA policies for a change?

 

[Urist]

Maybe we should have a list of no white companies. I support my country when my country supports me.

 

[Nobody Important]

Ja exclusion is kak.

... I support my country when my country supports me.

Daar sy!

 

[Fulcrum29]

How about Discuckery address unequal racist EE/AA policies for a change?

Discovery could have gone with an 10% empowerment partner like many other businesses and nobody would have murmured a word. Since we are actually dealing with the Financial Sector BEE Charter, why isn’t Solidarity challenging the B-BBEE Sector Charters?

Because you know, Discuckery is in line with the Financial Sector BEE Charter to be eligible.

 

[Techne]

How about Discuckery address unequal racist EE/AA policies for a change?

Why would they? Their non-white management obviously hate white people.

 

[EADC]

Yeah selective outrage from solidarity as usual.

 

[Swa]

Yeah selective outrage from solidarity as usual.

Please explain.

 

[EADC]

Why would they? Their non-white management obviously hate white people.

Identifies as black obviously

 

[SaiyanZ]

Maybe we should have a list of no white companies. I support my country when my country supports me.

Any company in SA which is BEE compliant. So all of them.

 

[Fulcrum29]

Please explain.

I actually agree with EADC and I have also pointed it out in the initial thread on this topic. Solidarity isn’t tackling the problem, they are tackling an entity who have to abide by the ‘new’ B-BBEE Sector Charters which came into play in 2017.

Discovery Bank isn’t the issue or the human rights criminal, it is the dti. I would love to know how many Solidarity members who are titled to a business entity are abiding by the B-BBEE Sector Charters. It seems everyone is happy with a 10% empowered partner than having that 10% distributed in accordance with the Financial Sector BEE Charter.

Nobody wants to tackle the issue at the root but is willing to tackle an abiding entity to score political points.

 

[ekske1]

I actually agree with EADC and I have also pointed it out in the initial thread on this topic. Solidarity isn’t tackling the problem, they are tackling an entity who have to abide by the ‘new’ B-BBEE Sector Charters which came into play in 2017.

Discovery Bank isn’t the issue or the human rights criminal, it is the dti. I would love to know how many Solidarity members who are titled to a business entity are abiding by the B-BBEE Sector Charters. It seems everyone is happy with a 10% empowered partner than having that 10% distributed in accordance with the Financial Sector BEE Charter.

Nobody wants to tackle the issue at the root but is willing to tackle an abiding entity to score political points.

I don't see them or any other entity challenging it; oh wait. money first.

 

[Fulcrum29]

I don't see them or any other entity challenging it; oh wait. money first.

Yes, I don’t see any B-BEEE entity challenging the B-BEEE codes, however, Discovery needs to abide by the Financial Sector BEE Charter or else they may not be issued with a license to operate.

The timing when the B-BBEE Sector Charters was reviewed and amended, especially the Financial Sector BEE Charter, was neatly planned in advance when several new banks were announced to enter the market, but that is the government’s meddling. In my opinion, Discovery chose the more 'cooperative BEE' partner by distributing 10%. You know they can always make 1% available and distribute it equally amongst their white clientele.

 

[Lew Skannen]

The bank targets the poor with great incentives. The poor can have their bank. Not interested in Discovery Bank and they will never see a cent from me.

 

[BBSA]

Discovery can go to hell.

 

[Hamster]

Identifies as black obviously View attachment 621614

Already owns shares #WhitePrivilege

 

[EADC]

Already owns shares #WhitePrivilege

Right white people not excluded

 

[TheChamp]

How is the boycott going?

 

[Hamster]

Right white people not excluded

Except I paid for his

 

[shooter69]

Maybe we should have a list of no white companies. I support my country when my country supports me.

I like this idea