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Mail & Guardian

Jayendra Naidoo

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South Africa is lagging behind in its transformation crusade, given that Standard Bank and Nedbank have less than 1% black ownership and neither have concluded black economic empowerment (BEE) transactions for a decade.
BLACK ECONOMIC EMPOWERMENT BEE

South Africa’s transformation drive under scrutiny as JSE black ownership remains low 

There were replacement transactions at Old Mutual and Absa, with FirstRand, Sanlam and Capitec retaining black ownership. But Standard Bank and Nedbank have less than 1% black…

  • Brian Sokutu
5 min read
Jayendra Naidoo said that closer to the conclusion of the transaction, Dan Matjila decided to involve the rest of the PIC’s executive team. (Delwyn Verasamy/M&G)
COUNTRY

PIC inquiry focuses on Steinhoff deal

Former trade unionist Jayendra Naidoo says former CEO Dan Matjila knew about the deal prior to consulting the PIC’s executive team

  • Thando Maeko
3 min read