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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...

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