Mail & Guardian
Africa · 2 hrs ago
✦ 78← Left
South Africa’s transformation drive under scrutiny as JSE black ownership remains low
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Quality 78/100
Partisan intensity 35/100
ObjectivePartisan
← Left ✓ Fair headline
South Africa's major listed banks show mixed progress on Black Economic Empowerment (BEE) ownership targets, with some institutions like Standard Bank and Nedbank falling significantly behind, raising questions about the effectiveness of transformation policies.
South Africa’s transformation drive under scrutiny as JSE black ownership remains low
There were replacement transactions at Old Mutual and Absa, with FirstRand, Sanlam and Capitec retaining black ownership. But Standard Bank and Nedbank have less than 1% black ownership – not having concluded BEE transactions for a decade
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