Skip to comments.South Africa’s economy remains firmly in white ownership
Posted on 12/12/2012 3:03:26 PM PST by MinorityRepublican
JOHANNESBURG South Africas black majority directly owns less than 10% of the Johannesburg stock market, a study showed on Thursday, evidence that Africas top economy remains firmly in white hands nearly two decades after the end of apartheid.
Despite the ruling African National Congress drive for black economic empowerment, under which firms are set black ownership and other targets, millions of blacks remain trapped in poverty and excluded from the formal economy.
Coming less than two weeks before the start of an ANC leadership election conference, the study will increase pressure on ANC President Jacob Zuma for more black empowerment, widely criticised for creating a politically connected, self-serving black corporate elite.
In June, Zuma called for a dramatic shift to redress the wealth balanc
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Coming soon to a demo demogogue near you....
You gotta take it!
Having visited South Africa as an adviser on housing for the poor, I can say that much of the population is ignorant and stuck in tribal traditions. The people I met were not capable of running anything.
Typical liberal wet dream. Oh wait! Obama is running the US!
I am perplexed! Didn’t the libtards eliminate apartheid years ago?
Nelson Mandela is still all over my tv screen!
I suppose that, as long as they can keep being elected, South Africa's black power-elite will prefer to reap the riches the educated white society can produce for them -- with a cut, of course.
Then again, once upon a time, I might have said the same about Mugabe.
Why is the schlump who pissed it all away entitled to anything of the "rich" guy's?
The way the entire world is run is the result of a typical liberal wet dream — the UN.
good! the south african blacks, like libtards and the us feral government, screw up everything they touch. the only hope for south africa are the whites.