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Amid the growing agitation for inclusion of black people in the mainstream economy and eradication of wealth inequality in SA, it may sound utterly foolhardy and ignorant to ask whether black people should embrace the recent Barloworld-Khula Sizwe broad-based BEE share offer. The Khula Sizwe (“grow the nation”) scheme adds to a growing list of inclusive and broad-based empowerment transactions that have departed from the historical precedent in which BEE deals were the preserve of a politically connected and selected few. In a refreshingly innovative transaction, Barloworld has structured a R28bn property sale agreement to Khula Sizwe, a newly established black-owned property company that is collectively owned by Barloworld black management, employees and the public. The ingenuity of this transaction is that Khula Sizwe has secured an off-take 10-year lease agreement (with an option to extend by five years) with the Barloworld group of companies in the motor retail, industrial a...

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