This week I was fortunate to spend a morning with black asset managers at the beautiful offices of investment managers 27four, led by the effervescent and extremely bright Fatima Vawda. The occasion was the launch of the 10th edition of their BEE.conomics "Transformation in the South African Asset Management Industry" report. In addition to inviting the president of the Association of Black Securities & Investment Professionals, the understated and hard-working Sibongiseni Mbatha, the asset manager also decided to invite the EFF's unequivocal Floyd Shivambu, who also serves as a member of parliament's very busy and action-packed standing committee on finance. The script is exactly the same in almost every report measuring BEE in 2018 SA. It is predictable — the numbers show marginal progress and there are one or two interesting insights and titbits, but largely it's the same story as last year. Consider, for example, that in 2009 there were 14 black asset management companies which ...

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