Money SA economy
Researchers say that ownership of shares on the JSE for previously disadvantaged people increased to almost 24% from 5% 13 years ago.
“Assumptions that black ownership on the JSE is only about 5%, are false,” the trade union Solidarity says.
The findings emerged at the launch of the Solidarity Research Institute’s (SRI) first SA Transformation Monitor (SAT Monitor) today. The research was done by independent researchers, commissioned by the SRI.
According to Johan Kruger, head of the Solidarity Research Institute, the increase in ownership showed that the implementation and execution of black economic empowerment (BEE) had already led to significant benefits for black South Africans. “The SAT Monitor shows that ownership is expected to increase to as much as 34% by 2012.”
The study investigates, among other things, black participation in and ownership of financial products such as investments, loans, life policies, annuities, pension funds, and medical and funeral policies.
“There are people who believe that BEE should be implemented more intensively because the wellbeing of black South Africans has not really improved. However, certain groups believe that the implementation of BEE has already contributed more to the development and promotion of a black middleclass than is recognised,” Kruger said.
