Solidarity: Black ownership on JSE rising sharply

Black economic empowerment (BEE) has led to a remarkable increase in black ownership on the JSE over the past 13 years, trade union Solidarity said on Wednesday.

“These findings form part of the Solidarity Research Institute’s first South African Transformation [SAT] Monitor,” the union said in a statement, adding it would release its comprehensive findings about transformation on Thursday.

“The SAT Monitor was designed to determine to what extent black South Africans have benefited from BEE since the inception of democracy.”

The first set of findings to be released focused on the increase in black ownership on the JSE as well as ownership of insurance policies.

Until February 2011, the SAT Monitor would make data about transformation available in 12 categories each month.

From March 2011, the data would be released via the South African Transformation Index on an annual basis, the union said.—Sapa

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