ANDILE NTINGI: Honest introspection needed on implementing transformation
Absa’s parting with Daniel Mminele has caused unhappiness in the black business community
Now that the dust is settling after the public outcry sparked by the unexpected departure of Absa’s first black CEO, Daniel Mminele, I believe it is important for the black business community to do honest introspection on how broad-based BEE (BBBEE) and transformation policies are implemented in this country.
In the wake of the recent announcement by Absa that it was parting ways with Mminele just more than a year into his tenure as CEO, the banking group was vigorously condemned by a number of organisations. Finance union Sasbo and black lobby groups the Black Management Forum (BMF), the Black Business Council (BBC) and the Association of Black Securities & Investment Professionals (Absip) all expressed unhappiness about the announcement...