Perhaps Duma Gqubule, a self-professed “expert” on BEE, is suffering from confirmation bias? (“The voodoo system of accounting for black ownership”, July 22).
When a share is not owned by an easily identifiable black politician, it does not mean it is owned by a white person. Thus, why would the 20% of the JSE that is owned by the Public Investment Corporation not be counted as black-owned?
Why would the 30% owned by retirement funds not be seen as at least 90% black-owned? Finally, why assume that the 40% of the JSE’s market cap that is owned by foreigners is “white”?
Phillip de Jager
Via BusinessLIVE
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