Investors must use their clout

Last year when the Employment Equity Commission's employment equity statistics were revealed, Labour Minister Membathisi Mdladlana named and shamed companies - to force them to comply with the law.

Last year when the Employment Equity Commission's employment equity statistics were revealed, Labour Minister Membathisi Mdladlana named and shamed companies - to force them to comply with the law.

But many lost sight of the principle and slammed the minister's tactics.

Be that as it may, there is hardly a murmur about some JSE-listed companies, like the JD Group board and management remaining lily white. This does not bode well for transformation.

It is not fair either to punt Public Investment Corporation chief executive, Brian Molefe, as a government hitman for taking Barloworld's board to task for lack of transformation, and for monitoring the JD Group.

Investors must hold back their investments to ensure that there is speedy transformation. In fact, shareholders, stakeholders, analysts and the media must lead the way to force companies to play their part to improve equity representation in the workplace.

Likewise, the Department of Trade and Industry must also name and shame companies that do not comply with BEE.

We cannot afford to be complacent if we are serious about transformation - or our strong economy will benefit only a few.

Morgan Phaahla, Ekurhuleni

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