BLACK business says that ownership should be the endgame and has made a rallying cry for shareholder activism among black shareholders to advance the transformation agenda. Twenty-two years into democracy, SA is still wrestling with endemic inequality which often reflects along racial lines. Peter Moyo, CEO of the NMT Capital Group, previously Amabubesi Investments, told delegates at the Black Management Forum (BMF) conference on Wednesday that black shareholders must take up the cudgels, make their voices heard and be more attuned to the black agenda. "If not, it [transformation] will just end there, so we’ve got to use the power that we have," he said. Moyo was part of a panel discussion at the conference. Panellists agreed that ownership was pivotal to transformation, depending on how it was used. In addition, black executives should have a say on who should be employed in top positions. The BMF has long bemoaned the lack of faith in black executives and has often decried appoint...
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.