Empowerment
Article Abstract:
The National Empowerment Consortium (NEC) has acquired a controlling stake in Johnnic from Anglo American. This reflects the growth of black economic power in South Africa, as does the appointment of Cyril Ramaphosa, previously general secretary of the African National Congress, as head of NEC. Affirmative action programs are also enhancing employment opportunities for black South Africans. New empowerment companies include New Africa Investments Ltd and Real Africa Investments.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Learning to adjust
Article Abstract:
The South African economy faces a number of problems such as high crime rates. The cost of crime is estimated at $9 billion annually by Nedcor, an investment bank. Unemployment is high and there is political uncertainty. Yet black businesses are starting to take off and whites are also becoming more involved in small enterprises. The government's economic policies have been pragmatic and the macroeconomic plan of Jun 1996 has been well accepted in South Africa.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Interview
Article Abstract:
Cyril Ramaphosa sees the sharing of economic power with black South Africans as the key economic issue facing that country. Privatization is one way of sharing that power, with black companies seeking to acquire assets. Consortia include labor unions and other economic groups so it is not just a minority that benefits. Conflicts may arise where labor unions are both owners and representative of employees. Economic power is the basis for real power.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Prowting. Fairview
- Abstracts: Northern Recruitment. Better counsel
- Abstracts: Employees move into the driving seat. The American way. Equities without upheaval
- Abstracts: Information is power. Mug up on how to make money
- Abstracts: New venture, old danger. A capital venture for the brave. Cash in on the skills of the venture capitalists