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

[SaiyanZ]

According to the video in the article, blacks who join too late won't get any shares. Seems like it will just be early adopters in the first few months which will form the 10%. So there won't be any discrimination on race after the initial open period.

 

[Swa]

FNB also had a share scheme at some point. Black people getting shares at an unfair advantage. I left it for Standard Bank and then Capitec. Guess what, plenty of people got to purchase Capitec shares at R1.

 

[SaiyanZ]

FNB also had a share scheme at some point. Black people getting shares at an unfair advantage. I left it for Standard Bank and then Capitec. Guess what, plenty of people got to purchase Capitec shares at R1.

Capitec and Standard Bank have dodgy BEE deals. Most companies in SA do. At least Discovery is doing things in the public space out in the open. Hence why it is also attracting noise as most common people don't understand what goes on in businesses in SA.


https://www.timeslive.co.za/sunday-...scores-as-their-capitec-stake-soars-to-r25bn/

https://www.iol.co.za/business-report/economy/capitec-chief-sells-up-as-bee-deal-is-queried-1394931

https://www.fin24.com/Companies/Standard-Bank-BEE-deal-tops-20040719

https://mg.co.za/article/2015-06-24-standard-banks-tutuwa-bbbee-scheme-reaches-historic-milestone

 

[D4N]

According to the video in the article, blacks who join too late won't get any shares. Seems like it will just be early adopters in the first few months which will form the 10%. So there won't be any discrimination on race after the initial open period.

How considerate of them.

 

[SaiyanZ]

How considerate of them.

Yep so if you weren't going to be an early adopter then you can stop crying because you wouldn't get any freebies anyway.

 

[Vrotappel]

Actually it doesn't and only a very liberal interpretation of it does.

Nope

2. Equality includes the full and equal enjoyment of all rights and freedoms. To promote the achievement of equality, legislative and other measures designed to protect or advance persons, or categories of persons, disadvantaged by unfair discrimination may be taken.

 

[Techne]

Nope

Yoh, the people that wrote the constitution are evil bastards.

 

[Swa]

Capitec and Standard Bank have dodgy BEE deals. Most companies in SA do. At least Discovery is doing things in the public space out in the open. Hence why it is also attracting noise as most common people don't understand what goes on in businesses in SA.


https://www.timeslive.co.za/sunday-...scores-as-their-capitec-stake-soars-to-r25bn/

https://www.iol.co.za/business-report/economy/capitec-chief-sells-up-as-bee-deal-is-queried-1394931

https://www.fin24.com/Companies/Standard-Bank-BEE-deal-tops-20040719

https://mg.co.za/article/2015-06-24-standard-banks-tutuwa-bbbee-scheme-reaches-historic-milestone

The point is Capitec didn't exclude anybody. I couldn't give a rat's ass if there are dodgy deals as it's a private company.

Nope

Yeah it should be seen in context. It also forbids discrimination based on race. The ANC and DA however see advancement of the disadvantaged (which can be done in other ways as originally envisioned) as a blanket excuse to ignore certain constitutional provisions and implement racists policies. No constitution is going to work if it's continually being ignored like has been the norm.

 

[SaiyanZ]

The point is Capitec didn't exclude anybody. I couldn't give a rat's ass if there are dodgy deals as it's a private company.

BEE doesn't exclude whites? This is new.

Whites were excluded there. They just didn't tell the whites and it's the norm so it didn't make the news.

 

[EADC]

The point is Capitec didn't exclude anybody. I couldn't give a rat's ass if there are dodgy deals as it's a private company.


Yeah it should be seen in context. It also forbids discrimination based on race. The ANC and DA however see advancement of the disadvantaged (which can be done in other ways as originally envisioned) as a blanket excuse to ignore certain constitutional provisions and implement racists policies. No constitution is going to work if it's continually being ignored like has been the norm.

Lol the constitution is not being ignored at all, the constitution allows for it, but you only read what suited your narrative in true swa fashion

 

[Swa]

BEE doesn't exclude whites? This is new.

Whites were excluded there. They just didn't tell the whites and it's the norm so it didn't make the news.

It doesn't need to. That's the problem here. People in this thread seem to assume that including blacks means excluding blacks. There's been attempts to make it law but they've never succeeded.

So I don't care about those deals. They're privately owned so can make whatever "dodgy" deals they want or pay anybody for any favour as long as the shareholders don't have a problem with it. They didn't exclude whites from buying shares and they still don't. Won't be possible for them in any case as they're a listed company.

 

[stormiezzz]

Well, I have been discriminated against for the last 25 years so any company that is BEEBEE EE or whatever the hell you call it will not be getting my support for the next 25 years to come. Unfortunately in some instances I will not be able to boycott all BEBBBBEEE companies but I will make it a point to do my damnedest.

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

 

[Swa]

Lol the constitution is not being ignored at all, the constitution allows for it, but you only read what suited your narrative in true swa fashion

Read what I said a while back. The constitution explicitly forbids it but that's ignored. Not surprising when the ANC has treated it like their personal poo pad.

 

[EADC]

Read what I said a while back. The constitution explicitly forbids it but that's ignored. Not surprising when the ANC has treated it like their personal poo pad.

Except it doesn't because you only read the part that you wanted to.

 

[SaiyanZ]

They didn't exclude whites from buying shares and they still don't.

Discovery doesn't exclude whites from buying shares. So what is your point?

 

[Swa]

Except it doesn't because you only read the part that you wanted to.

I read the part saying no discrimination based on race. That's the one that matters.

Discovery doesn't exclude whites from buying shares. So what is your point?

They exclude whites from getting them for free while giving them to blacks that don't even need them and can pay for them. That's been stated numerous times here. I haven't even seen any details on whether it's possible to buy shares.

 

[EADC]

I read the part saying no discrimination based on race. That's the one that matters.


They exclude whites from getting them for free while giving them to blacks that don't even need them and can pay for them. That's been stated numerous times here. I haven't even seen any details on whether it's possible to buy shares.

So your reason for saying the constitution is being ignored is by ignoring the constitution?

Swa logic at its finest

 

[Swa]

So your reason for saying the constitution is being ignored is by ignoring the constitution?

Swa logic at its finest

I'm not ignoring it, you are, the same as the ANC and DA.

 

[EADC]

I'm not ignoring it, you are, the same as the ANC and DA.

Lol you are hopeless