×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

There is something magical about the creation of wealth. The YeboYethu BEE deal is a perfect example of the benefits the capital markets can deliver to those who take the opportunities it has to offer. It also is an example of what can be achieved when corporate SA plays its role in bridging the wealth gap created by our terrible past. BEE deals such as this, and even those that have been less successful, serve a purpose, the importance of which can hardly be overstated — to bring the majority of our compatriots into the asset-owning part of our formal economy. Broad-based measures such as these, along with other nation-building endeavours and financial training, will eventually lift many in today’s working classes and the formerly oppressed into the middle class. Ten years ago, more than 102,000 black people accepted Vodacom Group’s offer to invest a minimum R2,500 each in the shares of its local operation. Of these, 60% could not afford to put away more than a humble R2,500. The m...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now