THE GHOST TRAIN
THE FINANCE GHOST: No ‘Africanacity’ in Absa’s new BBBEE deal
The banking group’s latest initiative is a major lost opportunity to bring a savvy investment option to more black investors
06 April 2023 - 05:00
Whether you agree with broad-based BEE (BBBEE) or not, it’s here to stay. This is a political imperative for the ANC and I would argue that significant transformation has been achieved in the economy, though it becomes difficult to attribute that specifically to BBBEE vs other factors.
You won’t find many corporates that have done nothing from a black ownership perspective, though they do exist. These are usually companies that don’t rely on the public sector or other businesses for revenue. In other words, retailers...
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