JSE’s black economic empowerment figures are not up to scratch, study shows
Companies listed on the JSE have only 38% representation by black people on their boards, a study by the Broad-Based Black Economic Empowerment (B-BBEE) Commission has found.The study, however, was limited due to low levels of reporting by listed entities. Only 30% of the 401 listed JSE entities reported and only four state-owned entities (SOEs). There were also limitations in the reporting of B-BBEE certificates and in capturing of data used for the analysis.According to the report, black males accounted for 20% of board representation of JSE-listed companies, and black females 18%. In 2016, there was only 30% (male, 18%; female, 12%) black representation on these boards, 15% of which were held by black foreign nationals, who do not meet the definition of black people under B-BBEE legislation.The report on the national status and trends on B-BBEE for the 2017 calendar year shows a decline in black ownership of 5.75 percentage points. Black ownership stood at 27% in 2017, compared t...
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