The debate on the slow pace of transformation of the South African economy very often, and quite conveniently, has been led by black people expressing their dissatisfaction with resistant, so-called white business. Have we, black people, ever paused to consider our role in this problem? This week, parliament's standing committee on finance received additional submissions on the debate about slow transformation of the financial sector, this time from government bodies and black business organisations. The Department of Trade and Industry's BBBEE Commission said the Financial Sector Code sought to fragment empowerment instead of "having a coherent approach" to it, and the code in its current form did not advance radical economic transformation. The Black Management Forum questioned the rationale for the very existence of sector codes in general and the Financial Sector Code in particular. They argue that the code has to either be amended to meet or exceed the minimum requirements set ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.