Black Wealth
Black South African investors currently own 18% of the available share capital of the top 100 companies listed on the JSE
This is according to an independent study by the JSE.
The available capital has been calculated according to requirements as set out by the Department of Trade and Industry (DTI).
The analysis was prompted by the extensive debate which has for some time taken place about black ownership on the JSE, which is seen as a good indicator of South Africa's economic progress and transformation.
"There has been much debate about black ownership on the JSE. Various and quite divergent numbers have been mentioned. With the JSE's unparalleled access to share data, we wanted to enrich the debate through presenting the facts in an impartial manner," Russell Loubser, CEO of the JSE, commented.
The JSE commissioned the research, the first of its kind in South Africa, with the aim of determining and presenting accurate percentages.
The analysis - which took 5 months to complete - was conducted by independent research house Trevor Chandler & Associates using actual shareholder data obtained from the share registers of listed companies.
The methodology
and the results were verified by AQRate
Verification Services. "We believe this
to be
a comprehensive study based on a rigorous and transparent methodology," Loubser said.
theSage
Hogwash!These are studies that Afri Forum uses to justify its calls for the end of affirmative action. And yet, the 18% is not direct ownership. It includes pension schemes etc. Also includes shares which dont give the holders any rights or dividends, with lengthy lock-in periods (7yrs for Vodacom). What is the percentage if they only count direct ownership?
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CheeseBoy
18% only?This is very bad indeed. 16 years post 94 and we've made this little progress!! clearly the whole redistribution of wealth programs like BEE/ BBEEE are failing us as a nation and as a people.
These programs need to be revised and beefed up where ever they are failing. To me it appears a majority of this transformation is being enjoyed by the very few black diamonds who are mostly affiliated with the ANC.
16 years after apartheid we are in a situation where more than 80% of the economy is still in the hands of about 10% of the population. If the stats this article is alluding to are right then we have a serious problem on our hands. I am worried.
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BrothaX
Great but not good enough. We still have a long way to go to ensure that a Black man plays a pivotal role in our economy. I say we are far from being there so long as we are still seen as a race with a big begging bowl. Up until the day I can run to a bank that has Africans as its major shareholders for a loan then I will know that a black man has arrived. Up until the day it is a common thing for a deceased black man to leave behind wealth for his family instead of debts then I will know that we are almost there.Oh! I so far tried twice to run a business and I was unsuccessful on both attempts but I have dusted myself off, steadily wollowing up and soon will be ready make another attempt.
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clint
its gonna take sometime before positive figueres come out but 18% is very good as compared to data that was released late in 2005. A positive growthReport Abuse
IceQueen
the problem is that we Africans believe that it is guluva for himself. our a im is to enrich ourselves and families, we don't care about a fellow brother. we do not work as one, if we did we would have been far by now. we would own businesses, just check how Indians and other foreigners do. we are greedy. we sell our own people by selling their land behind their backs. change Africa, change.Report Abuse
KasiKid
I don't think this is true, blacks own less than that, I once read an article sometime this year that blacks own less than 2% of shares of listed companies at JSE, there is no way it could have increased from < 2% to 18 % so quick, no ways...Follow the link below & see for yourself:
http://www.citypress.co.za/Business/News/Blacks-own-less-than-2-of-JSE-20100327
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Didisa
The Best way to fast track this is education, education to our people, i know of people that have resources to can invest in Shares, but lack of knowledge is robbing them of the Opportunity to maximise use of their assets. Even for the learned few, information on/about investing is very scares, jaaka meno a koko!This country needs social commentators to uplift our PDI especially in Rural areas, Yes i agree 18% is not enough in 16 years, but in 30 years to come we w'd still be sayin' the same thing if nothing is done to addres that now!
I therefore challenge those with the know how, to do community development, u can use the Gov, to pay for logistics, just draft a proposal and present to Gov! i.e Social dev, economic dev Deprtments.
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